South Bow Corp (SOBO) Receives a Sell from J.P. Morgan
J.P. Morgan analyst Jeremy Tonet maintained a Sell rating on South Bow Corp yesterday and set a price target of $28.00. The company’s shares closed yesterday at C$38.13.
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Tonet covers the Energy sector, focusing on stocks such as Targa Resources, Hess Midstream Partners, and Cheniere Energy Partners. According to TipRanks, Tonet has an average return of 8.1% and a 60.20% success rate on recommended stocks.
In addition to J.P. Morgan, South Bow Corp also received a Sell from Wells Fargo’s Praneeth Satish in a report issued yesterday. However, on the same day, Scotiabank maintained a Hold rating on South Bow Corp (TSX: SOBO).
Based on South Bow Corp’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of C$524 million and a net profit of C$96 million. In comparison, last year the company earned a revenue of C$554.25 million and had a net profit of C$107.27 million
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