Plains All American, the Energy sector company, was revisited by a Wall Street analyst yesterday. Analyst Jean Ann Salisbury from Bank of America Securities reiterated a Hold rating on the stock and has a $19.00 price target.
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Jean Ann Salisbury’s rating is based on a combination of factors that influence the current and future outlook of Plains All American. The company’s third-quarter earnings were slightly below expectations, and there was a downward adjustment to the 2025 EBITDA guidance, primarily due to lower oil prices and volumes. This indicates some challenges in the base business outlook, which contributes to the Hold rating.
Additionally, Plains All American’s recent acquisition of the remaining stake in the EPIC pipeline, although expected to drive synergies, was seen as somewhat expensive. The market had mixed reactions to this move, and while it extends contract durations, the full benefits, including cost savings, are not expected until 2026. Furthermore, volume headwinds in key regions like the Rockies and Permian add to the cautious stance, as these factors suggest limited growth in the near term. These elements collectively support the decision to maintain a Hold rating.
Ann Salisbury covers the Energy sector, focusing on stocks such as Targa Resources, Oneok, and Cheniere Energy. According to TipRanks, Ann Salisbury has an average return of -2.9% and a 46.28% success rate on recommended stocks.
In another report released yesterday, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $17.50 price target.