RBC Capital raised the firm’s price target on Plains All American to $17 from $15 and keeps a Sector Perform rating on the shares. The company’s Q3 results were “solid” while the management increased its 2023 adjusted EBITDA guidance on recently announced bolt-on acquisitions and stronger base business results, the analyst tells investors in a research note. Plains All American had also lowered its target leverage to 3.25x-3.75x, which can be viewed “positively”, the firm added.
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Read More on PAA:
- Plains All American price target raised to $21 from $17 at Truist
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