South Bow Maintained at Hold at TPH Following Its Investor Day; Price Target at C$39.00

MT Newswires Live11-20

Tudor, Pickering, Holt on Thursday reiterated its hold rating on the shares of South Bow (SOBO.TO, SOBO) with a C$39.00 price target after the pipeline company staged investor day presentations.

"Yesterday, we attended SOBO's in-person Investor Day event at the NYSE. While there weren't any major new project announcements, several important takeaways emerged, particularly around growth opportunities and how the company expects to achieve its ambitious goal of tripling enterprise value over the next 5 years. Management highlighted success in delivering on commitments and discussed targets for operational, portfolio, financial, and capital markets attributes. More details are provided in our takeaway report, but overall, we viewed the event as positive, with SOBO evaluating a robust set of opportunities across its Canadian and U.S. portfolio driven by macro tailwinds and improving financial metrics," analyst AJ O'Donnell wrote.

(MT Newswires 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.mtnewswires.com/contact-us)

Price: 39.35, Change: -0.03, Percent Change: -0.08

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