FINWIRES · TerminalLIVE
FINWIRES

Gibson Energy Maintained at Hold at TPH Following Q1 Results; Price Target at C$28.00

By

Tudor, Pickering, Holt on Tuesday maintained its hold rating on the shares of Gibson Energy (GEI.TO) with a C$28.00 price target following first-quarter results from the oil infrastructure and marketing company.

"light Negative. GEI reported Q1'26 Adj. EBITDA of C$139MM, below both TPHe at C$146MM and consensus of C$144MM, primarily driven by a rise in G&A costs and a restructuring charge. Infrastructure Adj. EBITDA was C$156MM (TPHe C$154MM), a modest beat supported by higher throughput volumes (+14% y/y to 221MM bbls) across all major facilities, though revenue was lower, which management attributed to geopolitical disruptions affecting demand for certain services at Gateway. Marketing Adj. EBITDA came in at C$3MM (TPHe C$2MM), as higher crude differentials and volatility in March offset continued headwinds from Canadian heavy oil backwardation and TMX-related flow shifts. Company-level G&A came in at ~C$19MM (TPHe C$11MM), reflecting continued investments in technology, cost allocation changes from the restructuring, and commercial team expansion. The company also incurred C$8MM of restructuring costs related to a headcount reduction, with C$4MM of the cash portion added back in the DCF calculation," analyst AJ O'Donnell wrote.

(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

Price: $28.52, Change: $-1.66, Percent Change: -5.50%

Related Articles

Research

Research Alert: Grab Achieves $120m Q1 Profit With 24% Revenue Growth, Reaffirms Guidance

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:Grab posted strong Q1 2026 results with revenue of $955M (+24% Y/Y) and net profit of $120M vs. $10M in the prior year, marking the second consecutive quarter of GAAP profitability. Adjusted EBITDA surged 46% Y/Y to $154M, with margin expanding 250 bps to 16.2%, demonstrating operating leverage in all segments including Mobility GMV growth of 23% and Deliveries GMV expansion of 25%. Key strategic milestones include securing Singapore's inaugural cross-border ride-hail license for the Singapore-Johor corridor and announcing its first international expansion through the acquisition of Taiwan's foodpanda. Executing $500M in share repurchases reflects management's confidence. Management maintained full-year 2026 revenue guidance of $4.04B-$4.10B and $700M-$720M in Adjusted EBITDA, which in our view, indicates confidence in sustained momentum. Financial Services revenue grew 43% to $107M with loan portfolio more than doubling to $1.4B, while strong advertising monetization led Deliveries profitability improvements.

$GRAB
Research

Research Alert: CFRA Maintains Hold Opinion On Shares Of Alliant Energy Corporation

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We raise our 12-month target by $2 to $75, valuing LNT at 21.5x our next-12-month EPS view. We trim our 2026 EPS view by $0.03 to $3.42 and trim 2027 by $0.02 to $3.68. Rate base growth stemmed from investments in generation, energy storage, and transmission assets, along with higher allowance for funds used during construction. LNT signed an additional ~370 MW electric service agreement in Iowa, bringing total contracted data center demand to ~3.4 GW (up from 3 GW previously), with the potential to add another 2-4 GW depending on ongoing negotiations. LNT now has five fully executed data center agreements, with three projects under active construction. In our opinion, the strategic focus on capacity-only electric service agreements, supported by flexible generation (simple cycle natural gas and battery storage), aligns capital deployment with revenue growth while preserving optionality for future energy needs. We think EPS and dividend growth (2025-2028) is attractive at 7.6% and 6.1%, respectively.

$LNT
Research

Research Alert: CFRA Maintains Hold Opinion On Shares Of Builders Firstsource, Inc.

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We lower our 12-month price target to $85 from $125, based on a 2027 P/E of 13.1x, a premium to the stock's 10-year average forward P/E of 12.1x, justified by cyclical trough market conditions. We lower our adjusted EPS estimates to $4.10 from $6.69 for 2026 and to $6.50 from $8.01 for 2027. BLDR posted Q1 2026 adjusted EPS of $0.27 vs. $1.51 (-82% Y/Y), well short of the $0.37 consensus. BLDR's Q1 sales fell 11% to $3.29B ($130M ahead of consensus), but gross margin contracted 220 bps to 28.3%. BLDR said it now expects 2026 net sales of $14.6B-$15.6B and adjusted EBITDA of $1.1B-$1.5B, versus prior expectations of $14.8B-$15.8B and $1.3B-$1.7B, respectively. Management said it remains focused on factors within its control, including serving customers, expanding its differentiated portfolio of value-added solutions, and leveraging technology to accelerate growth and drive operational excellence. We think BLDR's Q1 results underscore challenges the company faces from a weaker housing market.

$BLDR