J.P. Morgan Reaffirms Their Sell Rating on South Bow Corp (SOBO)
J.P. Morgan analyst Jeremy Tonet maintained a Sell rating on South Bow Corp yesterday and set a price target of $31.00. The company’s shares closed yesterday at C$44.44.
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Tonet covers the Energy sector, focusing on stocks such as Plains GP Holdings, Pembina Pipeline, and Plains All American. According to TipRanks, Tonet has an average return of 9.3% and a 61.00% success rate on recommended stocks.
The word on The Street in general, suggests a Hold analyst consensus rating for South Bow Corp with a $32.74 average price target, implying a -26.34% downside from current levels. In a report released on April 1, Morgan Stanley also maintained a Sell rating on the stock with a C$39.00 price target.
Based on South Bow Corp’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of C$419.35 million and a net profit of C$158.4 million. In comparison, last year the company earned a revenue of C$476.87 million and had a net profit of C$54.73 million
Based on the recent corporate insider activity of 24 insiders, corporate insider sentiment is neutral on the stock.
Read More on TSE:SOBO:
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