Pembina Pipeline Corp T.PPL.PF.B

Comments copy from TDWBDI :>O

[TimeBuilder]

Scotiabank on Pembina Pipeline's Quarter; "Beat 'n Raise Guidance and Phase VIII a Go"

06:24 AM EDT, 05/06/2022 (MT Newswires) -- Scotiabank noted Pembina Pipeline's (PPL.TO) quarter was well ahead of its expectations on the back of strong Marketing contribution. And the company increased its 2022 guidance range to reflect the strong Marketing environment, though Scotia noted its other businesses are also performing well. Pembina is moving forward with the Phase VIII expansion, which Scotia was not expecting, and views favourably. Scotia sees this project representing near $1/sh of value and drives its target price higher. Pembina continues to be one of Scotia's favourite names, and in the bank's view, is "well positioned to benefit from the current strong commodity price environment."

New Target of C$55.00, from $54.00. Rating, Sector Outperform.