Scotiabank lowered the firm’s price target on Plains All American (PAA) to $22 from $23 and keeps an Outperform rating on the shares. The firm is updating its numbers and price targets on stocks in U.S. Midstream coverage following “mixed” Q4 results, the analyst tells investors. While the trajectory for the sector remains positive, near-term hits to free cash flow profiles and more muted returns have caused valuations to compress from recent highs, the firm adds.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PAA:
- Plains All American Pipeline Reports Strong 2024 Results
- Plains All American Pipeline’s Positive Earnings Call Highlights
- Plains All American Reports Strong 2024 Financial Results
- Plains All American sees FY25 adjusted EBITDA $2.8B-$2.95B
- Plains All American reports Q4 adjusted EPS 42c, consensus 42c
Questions or Comments about the article? Write to editor@tipranks.com