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South Bow Corp
> Globe says South Bow seen as "an attractive investment"
Post by
bossu on Oct 04, 2024 8:56am
Globe says South Bow seen as "an attractive investment"
May be not for me ...because of my age but...
2024-10-04 08:17 ET - In the News
Shares issued 207,570,409
SOBO Close 2024-10-03 C$ 29.79
The Globe and Mail reports in its Friday, Oct. 4, edition that National Bank analyst Patrick Kenny sees South Bow as "an attractive investment for long-term, yield-oriented investors with a constructive view toward the WCSB continuing to increase heavy oil exports into the Gulf Coast market and potentially onto export terminals." The Globe's David Leeder writes in the Eye On Equities column that Mr. Kenny rates South Bow "sector perform" in new coverage. He targets the shares at $31, matching the consensus. Mr. Hardie says in note: "Considering South Bow as a pure-play crude oil transportation, storage and marketing opportunity, we highlight two major investment themes: (1) the long-term committed contract nature of the pipeline assets supported by investment grade counter parties; and (2) a Canadian/U.S. supply/demand dynamic supporting sustainable and incremental WCSB crude oil exports longer-term." Mr. Kenny says he sees the potential for "modest" multiple expansion given "relatively lower growth visibility" and "a weaker asset diversification profile" than its peers.
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