Plains All American ( (PAA) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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Plains All American Pipeline’s stock is on the move following its announcement to sell its Canadian NGL business to Keyera Corp. for C$5.15 billion. This strategic decision is intended to sharpen the company’s focus on crude oil operations and boost financial flexibility. Analysts have responded with varied adjustments to their price targets. JPMorgan raised its target to $20, citing improved capital management prospects, while Mizuho increased its target to $22, expecting a favorable market reaction. However, Scotiabank and Citi lowered their targets, expressing concerns over potential earnings challenges due to external uncertainties.
More about Plains All American
YTD Price Performance: 5.78%
Average Trading Volume: 3,573,960
Technical Sentiment Signal: Buy
Current Market Cap: $12.56B
For further insights into PAA stock on TipRanks’ Stock Analysis page.
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