Pembina Pipeline downgraded to Neutral from Outperform at Credit Suisse

Credit Suisse analyst Andrew Kuske downgraded Pembina Pipeline to Neutral from Outperform with a price target of C$51, down from C$52. The stock has outperformed versus the relevant Canadian peer group over several timeframes, said Kuske, who attributes his downgrade as being "largely on valuation and positioning." Commodity price volatility and the outlook for selected margins may be more challenged into 2023, the analyst added.