Scotia Raises TP ..G&M * Gibson Energy Inc. (
, “sector perform”) to $26 from $25. Average: $25.03.
“We view Gibson as having one of the better growth outlooks in our coverage universe, in part do to our expectation that it will sanction two tanks per year,” he said. “The balance sheet is in good shape, and if Marketing conditions improve, we could see share buybacks in 2022. Longer term, we view the company as a take out candidate if growth slows as we believe that its assets could handle more leverage than the public markets want to see. At recent levels, we view the shares as fairly valued.”