South Bow price target raised to C$39 from C$35 at Morgan Stanley

Morgan Stanley raised the firm’s price target on South Bow (SOBO) to C$39 from C$35 and keeps an Underweight rating on the shares. In the firm’s midstream and renewable energy infrastructure weekly update, the analyst argues that while midstream has received attention relative to higher torque energy subsectors since the start of the Iran war, investors have “started to sharpen their pencils on potential midstream estimate revisions.”