Analyst Lloyd Byrne of Jefferies maintained a Hold rating on Pembina Pipeline, with a price target of C$54.00.
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Lloyd Byrne has given his Hold rating due to a combination of factors influencing Pembina Pipeline’s financial outlook. The company’s third-quarter EBITDA exceeded expectations, driven by stronger performance in its Facilities and Marketing segments. However, the slightly lower guidance for fiscal year 2025 suggests that the fourth-quarter EBITDA might fall short of consensus estimates, which raises concerns about the company’s future earnings potential.
Additionally, while progress has been made in recontracting efforts on the Peace pipeline, which is crucial for maintaining its competitive edge, uncertainties remain regarding further recontracting and long-term growth prospects. The market will also be closely watching developments related to the Greenlight project. As such, the Hold rating reflects a cautious stance amid these mixed signals and the need for more clarity on future growth strategies.
In another report released on November 2, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a C$57.00 price target.