RBC Capital Sticks to Its Buy Rating for South Bow Corp (SOBO)
In a report released on January 21, Maurice Choy from RBC Capital maintained a Buy rating on South Bow Corp, with a price target of C$41.00. The company’s shares closed yesterday at C$37.01.
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Choy covers the Utilities sector, focusing on stocks such as Capital Power, Fortis, and Brookfield Infrastructure. According to TipRanks, Choy has an average return of 10.6% and a 69.11% success rate on recommended stocks.
Currently, the analyst consensus on South Bow Corp is a Hold with an average price target of C$39.97.
Based on South Bow Corp’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of C$461 million and a net profit of C$93 million. In comparison, last year the company earned a revenue of C$538.83 million and had a net profit of C$82 million
Based on the recent corporate insider activity of 34 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of SOBO in relation to earlier this year.
Read More on TSE:SOBO:
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- South Bow price target raised to $30 from $29 at Scotiabank
- From Stable Yield Play to High-Risk M&A Bet: Why South Bow Corp Earns a Sell Rating
- South Bow downgraded to Underperform from Peer Perform at Wolfe Research
- South Bow upgraded to Buy from Hold at Jefferies
- Optimistic Buy Rating for South Bow Corp: Promising Growth and Attractive Dividend Yield
