Scotiabank Increases South Bow (NYSE:SOBO) Price Target to $27.00

South Bow (NYSE:SOBO) had its price objective raised by research analysts at Scotiabank from $26.00 to $27.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “sector perform” rating on the stock. Scotiabank’s price objective would indicate a potential upside of 11.20% from the stock’s previous close.

Other equities research analysts also recently issued reports about the stock. Wells Fargo & Company downgraded shares of South Bow from a “hold” rating to a “strong sell” rating in a report on Wednesday, December 18th. Wolfe Research lowered South Bow from an “outperform” rating to a “peer perform” rating in a research report on Friday. TD Securities began coverage on shares of South Bow in a research note on Wednesday, January 15th. They issued a “hold” rating for the company. Tudor Pickering raised shares of South Bow to a “strong-buy” rating in a research report on Tuesday, November 19th. Finally, CIBC lowered shares of South Bow from a “sector outperform” rating to a “neutral” rating in a report on Friday. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $26.00.

South Bow Stock Down 1.4 %

Shares of SOBO traded down $0.35 during mid-day trading on Friday, reaching $24.28. 392,863 shares of the company’s stock were exchanged, compared to its average volume of 722,450. The stock has a market cap of $5.05 billion and a PE ratio of 13.09. South Bow has a 52-week low of $21.12 and a 52-week high of $27.60. The stock’s fifty day simple moving average is $24.57.

South Bow (NYSE:SOBO) last announced its quarterly earnings results on Wednesday, March 5th. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.12. The company had revenue of $488.00 million during the quarter, compared to analysts’ expectations of $524.87 million. As a group, equities analysts forecast that South Bow will post 1.74 EPS for the current year.

Institutional Trading of South Bow

Institutional investors have recently made changes to their positions in the business. Chelsea Counsel Co. acquired a new stake in South Bow in the 4th quarter valued at $208,000. B. Riley Wealth Advisors Inc. acquired a new position in shares of South Bow during the 4th quarter worth about $689,000. Polar Asset Management Partners Inc. bought a new stake in shares of South Bow in the 4th quarter valued at about $590,000. Mackenzie Financial Corp acquired a new stake in South Bow in the 4th quarter valued at about $26,826,000. Finally, Centerstone Investors LLC bought a new stake in South Bow in the fourth quarter valued at approximately $1,426,000.

About South Bow

South Bow Corp is a strategic liquids pipeline company. It is a new liquids-focused midstream infrastructure company. South Bow Corp is based in Canada.