Lloyd Byrne, an analyst from Jefferies, maintained the Buy rating on Gibson Energy. The associated price target is C$28.00.
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Lloyd Byrne’s rating is based on Gibson Energy’s performance surpassing expectations in a maintenance-heavy quarter. The company’s EBITDA exceeded both consensus and Jefferies’ estimates, demonstrating resilience despite operational challenges.
The Infrastructure and Marketing segments both performed better than anticipated, with Infrastructure’s EBITDA slightly surpassing projections. This was achieved amidst planned maintenance, highlighting effective cost management and strong throughput at key locations. These factors contribute to a positive outlook for Gibson Energy, supporting the Buy rating.
In another report released on July 24, RBC Capital also maintained a Buy rating on the stock with a C$26.00 price target.
Based on the recent corporate insider activity of 21 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of GBNXF in relation to earlier this year.