TSX:GEI - Post Discussion
Post by
ace1mccoy on May 05, 2021 7:47am
CIBC Raises
* CIBC’s Robert Catellier increased his Gibson Energy Inc. (
) target to $23 from $22 with a “neutral” recommendation. The average is $25.19.
“Results were stronger than expected, even when adjusting for the $7.1MM accrual reversal. Updates to our marketing outlook are enough to cause us to tweak our price target upwards. We harbor some concern about potential risks associated with the company’s seemingly growing renewables aspirations. We are giving It the benefit of the doubt that it will remain disciplined in capital allocation, not reduce return requirements for the sake of growth, and consider partnership rather than assuming a lot of development risk in areas where it may lack expertise,” said Mr. Catellier.
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