Pembina Pipeline Corp T.PPL.PR.E

RBC Raises And Comments -G&M

[ace1mccoy]

* RBC’s Robert Kwan raised his Pembina Pipeline Corp. (

PPL-T +3.57%increase

 

) target to $58 from $49 with an “outperform” rating. Other changes include: National Bank Financial’s Patrick Kenny to $48 from $45 with a “sector perform” rating and ATB Capital Markets’ Nate Heywood to $54 from $52 with an “outperform” rating. The average is $52.13.

 

“Pembina remains our favoured way to play WCSB-focused midstream infrastructure, and we viewed the Q1/22 release as highlighting a number of positive aspects, including: (1) solid financial results and an early in the year increase in the 2022 guidance; (2) the business tangibly capitalizing on improving energy market fundamentals via a new 20-year midstream agreement with ConocoPhillips Canada and the reactivation of the Phase VIII Peace Pipeline expansion project; and (3) continued and demonstrated discipline around its capital allocation priorities, including generating free cash flow (after all capex and dividend payments), reducing leverage, and buying back stock,” said Mr. Kwan.

[stockmarket1]

Price targets are too much higher than it's current price ( $50). Thought with last weeks great report, prices would have been closer to $60 ?

[mrbb]

[ quote=ace1mccoy] * RBC’s Robert Kwan raised his Pembina Pipeline Corp. ( PPL-T +3.57%increase   ) target to $58 from $49 with an “outperform” rating. Other changes include: National Bank Financial’s Patrick Kenny to $48 from $45 with a “sector perform” rating and ATB Capital Markets’ Nate Heywood to $54 from $52 with an “outperform” rating. The average is $52.13

[stockmarket1]

Markets today are up and yet PPL shares yet again drop. Analysts bump up their target prices for stocks only to see them fall shortly after. A systematic pattern I regularly notice.