Pembina Pipeline Maintained at Sector Perform at National Bank After Q4 Results; Price Target Kept at C$50.00
11:14 AM EST, 02/23/2024 (MT Newswires) -- National Bank Financial on Friday reiterated its sector-perform rating on the shares of Pembina Pipeline (PPL.TO, PBA) and its C$50.00 price target following fourth-quarter results from the oil and gas infrastructure and processing company.
"Pembina reported Q4/23 adj. EBITDA of $1,033 mln, slightly above our $1,013 mln estimate (Street: $1,014 mln), reflecting continued strong performance in the Pipelines and Facilities segments underpinned by growing volumes and higher tolls on certain systems ... PPL reiterated its 2024 base guidance including adj. EBITDA of $3.725-$4.025 bln, i.e., excluding the impact of the Alliance/Aux Sable acquisition (NBF: $4.149 bln including acquisition) and expects to provide guidance updates when timing of the deal closing (on track for H1/24) is more certain," analyst Patrick Kenny noted.
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)
Price: 46.57, Change: +0.14, Percent Change: +0.30