Pembina Pipeline price target lowered to C$60 from C$61 at CIBC

CIBC lowered the firm’s price target on Pembina Pipeline (PBA) to C$60 from C$61 and keeps an Outperformer rating on the shares. The firm said it believes the Alliance Pipeline settlement will be a “net positive that can reduce overhang on the shares,” noting that the settlement has no retroactive impact on the interim tolls, leaving FY25 financial guidance unchanged.