Raymond James Remains a Buy on Pembina Pipeline (PPL)


The Materials sector company, Pembina Pipeline (PPL), has received a rating update from a Wall Street analyst today. The company received a Buy rating from Raymond James’ analyst Chris Cox, with a C$51 price target.

According to TipRanks.com, Cox is a 2-star analyst with an average return of 1.2% and a 59.3% success rate. Cox covers the Basic Materials sector, focusing on stocks such as Baytex Energy Corp, Cenovus Energy Inc, and Canadian Natural.

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The word on The Street in general, suggests a Strong Buy analyst consensus rating for Pembina Pipeline with a C$54.71 average price target, a 20.1% upside from current levels. In a report issued on November 2, National Bank also maintained a Buy rating on the stock with a C$58 price target.

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Based on Pembina Pipeline’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of C$2.05 billion and net profit of C$334 million. In comparison, last year the company earned revenue of C$1.04 billion and had a net profit of C$107 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 Tuesday at C$45.56.

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