Gibson Energy downgraded to Sector Perform at Scotiabank on ‘muted’ growth

As previously reported, Scotiabank analyst Robert Hope downgraded Gibson Energy (GBNXF) to Sector Perform from Outperform with a price target of C$25, down from C$27, citing a “more muted” growth outlook and fewer relative catalysts than its Canadian Utilities and Energy Infrastructure peers. Among the group, the firm prefers the power names followed by the gas-levered pipeline and midstream names and then the utility group, the analyst tells investors in a sector preview.