09:28 AM EDT, 08/08/2023 (MT Newswires) -- TD Securities lowered its price target on Pembina Pipeline Corp. to $50 from $54 on Tuesday.
Analyst Linda Ezergailis maintained a Buy rating on shares of the Calgary-based energy transportation and midstream service provider following its quarterly results.
"Despite the headwinds from the wildfires and reduced operating pressure at Northern Pipeline, PPL expects pipeline volume growth in 2023, which we believe demonstrates the business' incumbency," Ezergailis said in a note to clients.
"PPL's continued commitment to the company's financial guardrails informs our view that the company's risk profile will not increase significantly if it reaches a positive FID on Cedar LNG in the near term, and as it navigates the industry's decarbonization journey over the long term," the analyst said.