UBS analyst Manav Gupta raised the firm’s price target on Plains All American to $22 from $21 and keeps a Buy rating on the shares. UBS expects a stronger quarter vs. expectations, with the Crude business coming in better than expectations quarter over quarter, though the NGL segment should be down quarter over quarter, but given the strong frac spreads and given the spread between butane and isobutane, the sequential decline will be better than expected, the analyst tells investors in a research note.
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Read More on PAA:
- Plains All American’s 2023 Schedule K-3 Now Available
- Plains All American Announces Pricing of Public Offering of $650 Million of Senior Notes
- Plains All American price target raised to $20 from $19 at Morgan Stanley
- Plains All American price target raised to $18 from $17 at RBC Capital
- Plains All American price target raised to $18 from $17 at TD Securities
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