Pembina Pipeline Price Target Raised to $72 at CIBC
CIBC Capital Markets raised its price target on Pembina Pipeline Corp. (PPL.TO) to $72 from $68.Analyst Robert Catellier maintained an Outperformer rating on shares of the Calgary-based energy transportation and infrastructure company."We view Pembina's sanctioning of the Heartland Extraction Plant, alongside the expansion of its long-term supply agreement with Dow Inc. (DOW), as further validation of the constructive LPG outlook while supporting management's targeted 5%-7% fee-based EBITDA/share growth through 2030," Catellier said in a note to clients."One key dynamic to monitor.... is the growing importance of labour availability and equipment procurement as infrastructure activity accelerates across the basin," the analyst said."In our view, early positioning on both fronts will be increasingly critical to maintain project timelines and capital discipline."(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)