-- CIBC Capital Markets on Friday resumed coverage of Gibson Energy (GEI.TO) after coming off restriction, with an outperformer rating and an increased price target to C$32.00 from C$30.00
CIBC views Gibson's acquisition of the Chauvin infrastructure assets in Alberta as strategic and accretive, extending the company's Hardisty platform with a complementary asset with favorable economics.
Alongside a visible pipeline of follow-on projects, the acquisition enhances visibility to the company's target of a 7%+ infrastructure EBITDA per-share compound annual growth rate through 2030.
Price: $30.11, Change: $+0.21, Percent Change: +0.70%