Nov. 18 at 12:16 AM
$ET I think we might be stuck in limbo until the next earnings. Flat isn’t bad, but most institutional investors will likely treat this as an accumulation phase. The main short term catalysts that are likely to have any movement based reaction are energy prices and Fed rates. While this is a midstream company, it still trades sympathetically with oil and natural gas prices. A perceived supply glut might persist for 1 or 2 quarters, but the longer term growth narrative is robust. NVDA earnings this week will offer insight into AI demand. I think at this point is hard to justify any negative scenario for energy demand. IEA report suggests that outlook, but the picture is more long term regardless than thinking about this 1 to 3 months out. Day Trading isn’t likely going to net you much, but give it about 6 months to 12 months I think we see at least 15% to 25% share price appreciation.
