JPMorgan downgraded Gibson Energy (GBNXF) to Neutral from Overweight with an unchanged price target of C$26. The firm sees a more balanced risk/reward following the “sudden” CFO replacement. With the catalysts largely played out, Gibson appears more fully valued, the analyst tells investors in a research note.
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Read More on GBNXF:
- Gibson Energy Announces CFO Transition with Riley Hicks Taking Role
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- Gibson Energy Sets Date for 2024 Financial Results Release
- Gibson Energy initiated with a Hold at TD Securities
- Gibson Energy price target raised to C$29 from C$27 at National Bank