iA Capital ..G&M * IA Capital Markets analyst Elias Foscolos raised his target for Pembina Pipeline Corp. (PPL-T) to $45 from $44, topping the $43.74 average, with a “hold” rating.
“Pembina’s Q3 results, which included Adj. EBITDA of $850-million, beat expectations on the back of strong Marketing results,” he said. “PPL plans to release a capital budget update and guidance update in early December at which time we will receive more clarity regarding which capital projects may be reactivated. On balance we consider the results in line, with Marketing tailwinds offsetting some Pipeline headwinds.”