From todays Globe and MailStifel’s Cole Pereira initiated coverage of
Pembina Pipeline Corp. (
PPL-T -0.17%
decrease ) with a “buy” rating and $51 target. The average is $52.06.
“We highlight four key points for investors: 1) its leading Montney infrastructure network with potential to drive earnings growth from exiting assets; 2) an attractive current and potential project suite, which could deliver growth into the late 2020s; 3) the meaningful reduction in its leverage levels and ability to self-fund; and 4) its valuation is largely in line with peers despite the points above,” said Mr. Pereira.