
Western Midstream Partners is upgraded to Strong Buy after a 4% pullback, offering an 8% yield and improved forward value. WES posted record Q2 results, raised 2026 EBITDA guidance by $250M, and benefits from robust margin and volume growth across core basins. The Brazos Delaware acquisition reduces customer concentration risk and is outperforming initial expectations, with $100M EBITDA expected in H2 and rising project returns.










