Pembina Pipeline Price Target Lowered to $60 at TD

MT Newswires Live12-16

TD Securities lowered its price target on Pembina Pipeline Corp. (PPL.TO) to $60 from $65 on Tuesday.

Analyst Aaron MacNeil maintained a Buy rating on shares of the Calgary-based oil and gas infrastructure company.

"Marketing guidance of $345 Million was 20% below our street-low estimate and 34% below consensus," MacNeil said in a note to clients.

"Midpoint guidance implies ~3% fee-based Y/Y growth in 2026, with the 3-year CAGR of 5% (2024-26) at the midpoint of its target," the analyst said.

"Capital spending of $1.6 Billion is above our estimate of $1.3 Billion."

(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)

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