South Bow (NYSE:SOBO) Coverage Initiated at JPMorgan Chase & Co.

Investment analysts at JPMorgan Chase & Co. began coverage on shares of South Bow (NYSE:SOBO) in a report released on Friday, MarketBeat reports. The brokerage set a “neutral” rating and a $28.00 price target on the stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 6.97% from the company’s previous close.

Several other research firms also recently weighed in on SOBO. National Bankshares lifted their target price on shares of South Bow from $24.00 to $25.00 and gave the stock a “sector perform” rating in a research note on Friday, March 7th. CIBC lowered shares of South Bow from a “sector outperform” rating to a “neutral” rating and set a $25.00 price objective for the company. in a research note on Friday, March 7th. Scotiabank increased their target price on South Bow from $26.00 to $27.00 and gave the stock a “sector perform” rating in a research report on Friday, March 7th. Wells Fargo & Company cut South Bow from a “hold” rating to a “strong sell” rating in a research report on Wednesday, December 18th. Finally, TD Securities started coverage on South Bow in a report on Wednesday, January 15th. They set a “hold” rating on the stock. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $26.25.

South Bow Price Performance

NYSE:SOBO opened at $26.18 on Friday. South Bow has a 12 month low of $21.98 and a 12 month high of $27.60. The business has a 50 day moving average of $25.31. The company has a market cap of $5.45 billion and a PE ratio of 14.15.

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

Institutional Investors Weigh In On South Bow

Several hedge funds have recently added to or reduced their stakes in SOBO. Wiser Advisor Group LLC purchased a new position in shares of South Bow during the 4th quarter valued at about $27,000. Roxbury Financial LLC purchased a new stake in shares of South Bow in the 4th quarter valued at $29,000. BNP Paribas Financial Markets bought a new position in shares of South Bow during the 4th quarter valued at $29,000. Assetmark Inc. bought a new stake in South Bow in the fourth quarter worth $33,000. Finally, Rhumbline Advisers purchased a new stake in South Bow during the fourth quarter valued at about $34,000.

South Bow Company Profile

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.