RBC target Price $48 (Lets go Guys) 12:02 PM EDT, 11/05/2021 (MT Newswires) -- RBC Capital Markets on Friday reiterated its outperform rating on the shares of Pembina Pipeline (PPL.TO) with a C$48.00 target price after the oil-infrastructure company reported third-quarter results in line with expectations.
"On balance, we view the quarterly disclosures as being neutral for the share price, although we believe that some investors may
be disappointed that the company only reiterated (instead of raising) guidance and a greater-than-expected proportion of EBITDA came from the Marketing & New Ventures segment. Nevertheless, we highlight the positive commentary on Alliance as well as the company's outlook for strong commodity pricing continuing into 2022," the investment bank noted.