Superior Plus Corp. (SPB.TO) was downgraded to sector perform from outperform at RBC Capital Markets on Monday.
Analyst Nelson Ng lowered his price target on shares of the Canadian natural gas distribution company to C$9 from C$10.
"We believe shares will be range-bound over the next 12 months due to i) Super El Nino weather risk, ii) a pause in share buybacks potentially through 2027, and iii) elevated capex constraining the balance sheet," Ng said in a note to clients.
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