TD Securities last night initiated coverage of Pembina Pipeline (PBA) with a Buy rating and C$66 price target Companies with natural gas exposure and size advantages ranked best in TD’s scorecard, and should trade at the highest multiples, the analyst tells investors in a research note. The firm says the Canadian Midstream sector offers income-oriented investors low financial volatility and a growing dividend with an attractive yield. TD named Pembina its top pick in the group. Pembina ranked second overall in TD”s scorecard, and the company features the best capital structure in Canadian Midstream, with the strongest historical track record, the firm contends.
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