UBS raised its target for PAGP's operating subsidiary but kept its Sell rating. The mixed opinion reports no new business results for PAGP, so it does not change the company's outlook.
For PAGP, the note concerns its operating subsidiary, not new business results. The higher target and unchanged Sell rating point in different directions, so they do not support a clear change in PAGP's outlook.
UBS raised PAA's target but kept its Sell rating. The mixed opinion reports no new business results for PAA, so it does not change the company's outlook.
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