$SPB.TO

Superior Plus Maintained at Buy at Stifel Canada Following Q1 Results; Price Target Raised to C$10.00

Stifel Canada on Thursday maintained its buy rating on the shares of Superior Plus (SPB.TO) while raising its price target to C$10.00 from C$9.00 as it adjusted its models following the company's first-quarter results."We are updating our estimates following SPB's Q1/26 results. Q1/26 was an encouraging update, with propane results better-than-feared and the delivery optimization challenges seemingly stabilized. However, the key focus is the emerging data center opportunity at Certarus and the need to pause the NCIB to fund capex. To date, five data center contracts have been secured, including the previously announced large hyperscale project slated for mid-2027. There is a healthy amount of investor skepticism surrounding the capital investment required to pivot into data centers. We sympathize given the recent execution challenges and the perceived lack of barriers to entry to CNG distribution but we think the risk/reward is compelling (even if this proves to be an AI/data center bubble). Also, as a scaled early-mover, the initial years of this nascent opportunity could be very attractive akin to Certarus' first 10-years of O&G growth," analyst Daryl Young 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: $7.64, Change: $+0.19, Percent Change: +2.55%

CIBC Ups Superior Plus' Price Target to C$9.50 from C$8

CIBC Capital Markets on Thursday maintained its outperformer rating on the shares of Superior Plus (SPB.TO) while raising its price target to C$9.50 from C$8.00 following the company's first-quarter results..Superior's first-quarter results may mark an inflection point where the narrative changes back to a stronger growth outlook based on data center-related compressed natural gas demand, CIBC said.Superior agreed to provide 135 megawatt of power generation for a hyperscale project, with an in-service date of mid-2027. The company expects to recognize $350 million from overall data-center business over 2.5 years from secured agreements, and is evaluating several other opportunities."Given the rapidly evolving data centre market and its need for high reliability, we expect more opportunities to emerge," CIBC said. "While we are not speculating as to the ultimate size of new opportunities, we are increasing our valuation multiple modestly to reflect renewed growth potential."Price: $7.61, Change: $-0.18, Percent Change: -2.31%

Superior Plus Target Raised To C$7.50 From $6, Keeps Sector Perform at National Bk With "Data Centre Demand Breathing New Life Into CNG Outlook"

Superior Plus Target Raised To C$7.50 From $6, Keeps Sector Perform at National Bk With "Data Centre Demand Breathing New Life Into CNG Outlook"

Earnings Flash (SPB.TO) Superior Plus Corp. Posts Q1 Adjusted EPS $0.68 per Share, Vs $0.67

TSX Closer: Index Down In All But 1 of the Last 8 Sessions; Morningstar Cites 10 Top-Performing Dividend Stocks

The Toronto Stock Exchange has closed lower in all but one of the last eight sessions, with the latest losses on this Tuesday coming as U.S. Defense Secretary Pete Hegseth said the US-Iran ceasefire "is not over" despite attacks in the Strait of Hormuz yesterday.The S&P/TSX Composite Index closed down 71.96 points, or 0.2%, at 33.566.91, even as most sectors were higher, led by Health Care, up 2.5%, followed By Base Metals, up 2%, and Energy, up 1.4%. Information Technology was down near 4.2% and the Battery Metals Index was down 2.6%.Among individual stocks, BNN Bloomberg TV cited Ero Copper, up more than 5% today and up just short of 100% over one year. The company reported first-quarter results earlier Tuesday. BNN also cited Parex Resources (PXT.TO), up near 5% as Frontera (FEC.TO) obtained a final order approving their plan of arrangement.On the negative side, BNN cited Shopify (SHOP.TO), down more than 15% after its Q1 results, and Keyera (KEY.TO), which lost more than 7% as the Competition Bureau moved to block its $5.15-billion acquisition of Plains All American Pipelines Canadian natural-gas liquids business.Still on individual stocks, Morningstar Canada said the top performing dividend payers in April included engineering and construction company Aecon (ARE.TO), Canadian Imperial Bank of Commerce (CM.TO), and asset management firm IGM Financial (IGM.TO). Morningstar noted dividend-paying stocks that "combine healthy balance sheets with hefty yields" can provide investors with "steady incomes, cushion against market downturns, and grow investments at a healthy clip".A screening of the Morningstar Canada Index, which measures the performance of Canada's broad regional markets, targeting the top 97% of stocks by market capitalization, for companies with a forward dividend yield of at least 1.5%, excluding real estate investment trusts, showed the best performing Canadian dividend stocks last month. This included the aforementioned Aecon, CIBC and IGM. The list also included National Bank of Canada (NA.TO), TD Bank Group (TD.TO), Industrial Alliance Insurance and Financial Services (IAG.TO), Power Corporation of Canada (POW.TO), TMX Group (X.TO), Sun Life Financial (SLF.TO) and Superior Plus (SPB.TO).Of commodities, gold traded higher by midafternoon, rising off a five-week low as treasury yields weakened. Gold for June delivery was up US$35.60 to US$4,568.90 per ounce.But West Texas Intermediate crude oil fell 3.9% with the ceasefire between the United States and Iran seen holding, calming Monday's gains as violence in the Persian Gulf eased. WTI crude oil for June delivery closed down US$4.15 to settle at US$102.27 per barrel, after rising 4.4% on Monday, while July Brent oil was down US$4.24 to US$110.20.

Superior Plus Maintained at Buy at Stifel Canada Ahead of Q1 Results; Price Target Kept at C$9.00

Stifel Canada on Tuesday reiterated its buy rating on the shares of Superior Plus (SPB.TO) and its C$9.00 price target ahead of the company's first-quarter results."SPB reports Q1/26 results AMC May 13th. It has been well-telegraphed that Q1/26 will see a continuation of the operational challenges in propane that will offset an otherwise favorable winter backdrop. Based on heating degree days it was 6% and 2% colder than the five-year average in the U.S. and Canada, respectively. However, we expect propane discussions to take a back-seat to Certarus given the combination of: 1) potential for improving O&G activity this summer, and 2) the recently announced multi-year data center contract (see here). The key focus for the conference call will be the economics of the new data center supply contract (and how SPB will stick-handle the capex), and what the spring/summer drilling outlook is (both activity levels and competitive dynamics/pricing in West Texas). SPB remains a company in transition, but we think the platform holds significant optionality at the current valuation," analyst Daryl Young 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: $7.47, Change: $+0.01, Percent Change: +0.13%

CIBC Names Keyera, Pembina as Top Energy Infrastructure Picks Ahead of Q1 Earnings Season

CIBC Capital Markets on Wednesday named Keyera (KEY.TO) and Pembina Pipeline (PPL.TO) as its top energy infrastructure picks heading into the first-quarter earnings season.Keyera has unrealized value in the pending acquisition of Plains' natural gas liquids assets, although the timing is more likely at quarter-end, CIBC said.Pembina also offers upside tied to the Greenlight Electricity Centre project, as well as a potential increase in marketing guidance, CIBC said.Pembina also has the strongest potential to increase marketing guidance, although historically it has been reluctant to do so early in the year, CIBC added."More broadly, we believe the constant macro news flow may create trading opportunities for investors who are nimble and able to tolerate the associated portfolio turnover," CIBC said.CIBC upgraded TC Energy's (TRP.TO) rating to outperformer from neutral while raising the price target to $89.00 from $85.00, reflecting higher expected returns from recent projects, with the increased return profile driving the rating change.CIBC also increased AltaGas (ALA.TO)'s price target to $51.00 from $50.00 on a stronger liquefied petroleum gas outlook.Superior Plus (SPB.TO)'s rating also moved to outperformer from neutral following its data center announcement for its Certarus unit.Price: $48.92, Change: $+0.71, Percent Change: +1.47%

Stifel Canada Keeps Buy Rating, $9.00 Price Target on Superior Plus After Certarus Deal

Superior Plus (SPB.TO) said this week its Certarus subsidiary secured a 2.5-year natural-gas supply agreement to support a major data center project in the United States. The project requires ~135 megawatts of prime power generation and brings associated revenues of US$300 million over the contract term, notes Stifel Canada.Analyst Daryl Young, who is maintaining a buy rating and $9.00 price target on Superior Plus shares, says the contract represents a significant expansion of the data center vertical, following the 50 MW bridge contract Certarus secured in late 2025."We see this as a significant positive update as it exemplifies the optionality that exists in the Certarus platform, and provides strong revenue visibility."Price: $7.38, Change: $+0.24, Percent Change: +3.29%

Superior Plus Upgraded to Outperformer at CIBC as Data Center Opportunity Lifts Certarus Outlook

CIBC Capital Markets upgraded its rating on the shares of Superior Plus (SPB.TO) to outperformer from neutral, while maintaining an $8.00 price target.Analyst Robert Catellier views Superior Plus's decision to accelerate investment in data center opportunities at its Certarus subsidiary as offering attractive diversification at a time when core wellsite activity has softened.On Monday, Superior Plus announced multiple new contracts tied to hyperscale data center development, including a 2.5-year agreement supporting a project alongside a "global power generation partner". Certarus will supply natural gas to support ~135 MW of power generation once the facility enters service in mid-2027, with expected lifetime revenue of ~US$300 million.While the customer has not been identified, Catellier's best guess is it is private equity-owned Aggreko as its public-facing disclosures name Certarus as its CNG partner. The project will require 200 CNG transport trailers."While details on contract scope and capital requirements remain limited, we believe the opportunity has the potential to drive a meaningful uplift to medium-term growth," Catellier writes.Price: $7.31, Change: $+0.17, Percent Change: +2.38%

Superior Plus Shifting Focus to Its Mobile Compressed Natural Gas Solutions Business

Superior Plus Corp. (SPB.TO) announced Monday that it it making a "strategic shift to prioritize further investment in its mobile compressed natural gas (CNG) solutions business through its wholly owned subsidiary, Certarus, to capitalize on this growing opportunity.In a statement, Superior said: "Driven by increasing power and energy demands for data centers and related infrastructure, Certarus continues to secure significant new customer commitments, underscoring its unique capability to meet the scale and reliability demands of this evolving sector."According to SPB, Certarus has recently been awarded multiple contracts, including a two and a half year agreement to support a hyperscale data center project in partnership with a global leader in power generation solutions. Under this agreement, it said, Certarus will provide natural gas supply to support approximately 135 megawatts of prime power generation once the facility is online. The project is currently under development and is expected to commence operations in mid-2027. Certarus will provide reliable fuel supply, with total expected revenue of more than US$300 million over the life of the contract, it added"As power constraints continue to challenge large-scale developments like data centers, customers need certainty around reliable energy supply," said Allan MacDonald, President and Chief Executive Officer of Superior Plus.SPB said the adoption of CNG by data centers is in the early stages and represents just one of several sectors where the company sees opportunity.It added Certarus will supply natural gas for the project using its mobile compression platform, supported by a large fleet of high-capacity CNG transport trailers."Across North America, the data center ecosystem increasingly faces extended timelines to secure grid and pipeline connections due to rising power demand and infrastructure limitations," said Dale Winger, President of Certarus. "These challenges have created a growing need for rapidly deployable and scalable energy solutions."SPB will provide additional detail regarding its financial outlook with the release of Q1 financial results on Wednesday, May 13, 2026.Shares in SPB were down near 0.5% on the TSX last Friday.

Superior Announcing "Significant" Data Center Growth At Certarus