Wells Fargo downgraded South Bow (SOBO) to Underweight from Equal Weight with an unchanged price target of C$31. The firm remains bullish on the natural gas data center theme but is overall cautious on midstream in 2025, citing full valuations and expectations for range-bound commodity prices. Natural gas pipeline stocks should maintain their premium and could see potential further multiple expansion driven by higher terminal values and increased capex on high return data center growth projects, the analyst tells investors in a research note. Wells adjusted midstream ratings as part of its 2025 outlook.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SOBO:
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue