Pembina Pipeline (PPL) Gets a Buy Rating from CIBC


The Materials sector company, Pembina Pipeline (TSX: PPL), has received a rating update from a Wall Street analyst yesterday. Analyst Robert Catellier from CIBC rated Pembina Pipeline (TSX: PPL) a Buy, setting a C$52 price target.

Catellier has an average return of 8.5% when recommending Pembina Pipeline.

According to TipRanks.com, Catellier is ranked #1833 out of 4848 analysts.

Read also: Crude Oil: Sell Now, Buy Later

Currently, the analyst consensus on Pembina Pipeline is a Strong Buy with an average price target of C$53.42, which is a 12.4% upside from current levels. In a report issued on August 2, Canaccord Genuity also maintained a Buy rating on the stock with a C$52 price target.

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Based on Pembina Pipeline’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of C$1.84 billion and net profit of C$330 million. In comparison, last year the company earned revenue of C$1.17 billion and had a net profit of C$124 million.

Pembina Pipeline Corp. engages in the provision of transportation and midstream services. It operates through the following segments: Conventional Pipelines, Oil Sands and Heavy Oil, Gas Services. and Midstream.

The company’s shares closed on Friday at C$47.52, close to its 52-week high of C$47.59.

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