Tudor, Pickering, Holt on Thursday maintained its buy rating on the shares of Pembina Pipeline (PPL.TO, PBA) with a C$58.00 price target ahead of the oil and gas infrastructure and processing company's fourth-quarter results.
"Our refreshed PPL model resulted in moderate changes to estimates over the forecast period. For Q4'25, our Adj. EBITDA estimate moved higher by +C$8MM to C$1,106MM, compared to the Street at C$1,100MM. The change was mostly driven by higher expectations for Facilities as a result of full Q4 volume data for processing plants and fracs. We also lowered the Corporate segment expenses based on share performance, resulting in a C$5MM benefit, which was offset by lower Pipeline EBITDA due to slight changes in Alliance expectations. For the Marketing segment, our Q4 estimate sits at C$120MM, compared to implied guidance of ~C$112MM," 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: 56.93, Change: +0.43, Percent Change: +0.77
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