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

South Bow (NYSE:SOBO) had its price objective hoisted by equities research analysts at Scotiabank from $26.00 to $27.00 in a note issued to investors on Friday, Marketbeat.com reports. The firm currently has a “sector perform” rating on the stock. Scotiabank’s price objective would indicate a potential upside of 12.47% from the company’s current price.

SOBO has been the subject of several other reports. Tudor Pickering raised South Bow to a “strong-buy” rating in a research report on Tuesday, November 19th. Wells Fargo & Company cut South Bow from a “hold” rating to a “strong sell” rating in a research report on Wednesday, December 18th. CIBC cut South Bow from a “sector outperform” rating to a “neutral” rating and set a $25.00 price objective for the company. in a research report on Friday. Wolfe Research cut South Bow from an “outperform” rating to a “peer perform” rating in a research report on Friday. Finally, TD Securities initiated coverage on South Bow in a research report on Wednesday, January 15th. They issued a “hold” rating for the company. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $25.67.

South Bow Stock Down 2.5 %

Shares of NYSE SOBO opened at $24.01 on Friday. The company’s 50 day moving average is $24.58. South Bow has a 52 week low of $21.12 and a 52 week high of $27.60. The firm has a market capitalization of $4.99 billion and a PE ratio of 12.98.

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

Institutional Trading of South Bow

Several hedge funds have recently added to or reduced their stakes in SOBO. Hennessy Advisors Inc. acquired a new stake in South Bow during the 4th quarter worth approximately $276,000. Nexus Investment Management ULC acquired a new stake in South Bow during the 4th quarter worth approximately $2,810,000. MassMutual Private Wealth & Trust FSB acquired a new stake in South Bow during the 4th quarter worth approximately $213,000. Viking Fund Management LLC acquired a new stake in South Bow during the 4th quarter worth approximately $740,000. Finally, Mutual Advisors LLC acquired a new stake in South Bow during the 4th quarter worth approximately $517,000.

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.