UGI Corporation has room to grow despite near-term headwinds, according to Wells Fargo.
Analyst Sarah Akers upgraded the natural gas and propane distributor to overweight from equal weight and lowered her price target by $1 to $27.
Akers' new target suggests shares could still gain 19% in the next year from where shares closed Friday.
The turnaround that Wells expects at UGI comes after the stock lost more than 19% in 2022.
Wells also sees additional upside potential to its outlook and price target, should UGI successfully reboot volumes and margins at recently acquired AmeriGas.
Persons:
Sarah Akers, Akers, UGI, Wells, — CNBC's Michael Bloom
Organizations:
UGI Corporation, UGI
Locations:
Wells Fargo, United States, U.S, UGI