Bank of America Securities Reaffirms Their Sell Rating on Plains All American (PAA)

In a report released today, Chase Mulvehill from Bank of America Securities maintained a Sell rating on Plains All American (PAAResearch Report), with a price target of $11.00. The company’s shares closed last Tuesday at $10.91.

According to, Mulvehill has currently 0 stars on a ranking scale of 0-5 stars, with an average return of -6.4% and a 50.0% success rate. Mulvehill covers the Industrial Goods sector, focusing on stocks such as Enterprise Products Partners, Magellan Midstream, and Plains GP Holdings.

Currently, the analyst consensus on Plains All American is a Moderate Buy with an average price target of $13.29.

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Based on Plains All American’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $10.78 billion and GAAP net loss of $59 million. In comparison, last year the company earned revenue of $5.83 billion and had a net profit of $143 million.

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Plains All American Pipeline LP engages in the provision of transportation, storage, terminalling and marketing of crude oil, refined products and other natural gas-related petroleum products. It operates through the following business segments: Transportation, Facilities, and Supply and Logistics. The Transportation segments consist of fee-based activities associated with transporting crude oil and refined products on pipelines, gathering systems, trucks and barges. The Facilities segment includes fee-based activities associated with providing storage, terminalling and throughput services for crude oil, refined products, and natural gas, as well LPG fractionation and isomerization services. The Supply and Logistics segment is engaged in the sale of gathered and bulk-purchased crude oil and natural gas liquids volumes. The company was founded in 1998 and is headquartered in Houston, TX.

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