UPDATE: Goldman Sachs Raises Plains All-American Pipeline's PT

According to a research report published this morning, Goldman Sachs has increased Plains All-American Pipeline's PAA PT from $93 to $100. Goldman Sachs commented in the report, "We add Buy-rated Plains All-American to the Conviction List. PAA provides leverage to several key midstream themes, including (1) oil infrastructure growth, with Plains well positioned in several top plays such as the Permian, Bakken, and Niobrara, (2) continued crude oil price volatility and wide basis differentials, which drive higher logistics margins, and (3) a strong financial profile with high growth, high coverage, low leverage, and largely fee-based cash flows. In addition, we see acquisitions and an underutilized pipeline as attractive “call options” on future growth." Goldman Sachs maintains its Buy rating on Plains All-American, which is currently trading at $80.33.