Scotiabank raised the firm’s price target on Plains All American (PAA) to $20 from $18 and keeps an Outperform rating on the shares. The firm sees Plains All American’s deal to acquire ownership stakes in EPIC Crude as generally positive for Kinetik (KNTK) and Plains All American, the analyst tells investors.
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Read More on PAA:
- Hold Rating Maintained for Plains All American Amid EPIC Crude Pipeline Acquisition Concerns
- Plains to buy 55% interest in EPIC Crude Holdings, transaction valued at $1.57B
- Plains All American Acquires Stake in EPIC Crude Holdings
- Plains to acquire 55% interest in EPIC crude holdings
- Plains All American price target lowered to $20 from $22 at Morgan Stanley