BMO Capital downgraded Pembina Pipeline (PBA) to Market Perform from Outperform with a price target of C$60, up from C$58. The firm cites valuation for the downgrade. BMO finds Pembina reasonably valued after the recent 15% rally in the shares in the context of its future organic pipeline.
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Read More on PBA:
- Pembina: Solid Fundamentals and Earnings Visibility Largely Priced In, Justifying a Hold/Market Perform Rating
- Maintaining Hold: Near-Term Operational Headwinds Offset by Select Growth Initiatives and Long-Term Project Visibility
- Pembina Pipeline reports Q4 EPS C$1.26 vs. C$1.59 last year
- PBA Upcoming Earnings Report: What to Expect?
- Pembina Pipeline downgraded to Hold at TD Securities on valuation