TSX:PPL - Post Discussion
Post by
Dibah420 on May 17, 2024 7:57am
Scotia
* Scotia’s Robert Hope raised his Pembina Pipeline Corp. (
) target to $56 from $55 with a “sector outperform” rating. The average is $54.21.
“Pembina hosted a well-attended Investor Day in Toronto,” said Mr. Hope. “The presentations focused on (1) various levers to optimize the base business to generate incremental returns, (2) over $4-billion of projects under development that if sanctioned, could increase the visibility and duration of its growth profile, and (3) its strong financial outlook including an equity self-funding model. It appears that the sanctioning of the Cedar LNG project is weeks away, and as such, we now include the project in our model, which adds to our capital expenditures in 2024-2026. We increase our target $1/sh to reflect this project. The 2024-2026 financial outlook is largely in-line with our expectations. Our EBITDA estimates do not materially move, while our per-share cash flow estimates moderate slightly as we assume that Cedar supplants some near-term share buybacks.”
* RBC’s Pammi Bir raised his Sienna Senior Living Inc.
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