Market Overview

UPDATE: Bank of America Raises PO to $58 on Plains All American Post Q4 Outperformance

Related PAA
Credit Suisse Downgrades Plains All American As 'Outlook Goes From Bad To Worse'
Mid-Afternoon Market Update: Foundation Medicine Slides On Wider-Than-Expected Loss; Chefs Warehouse Shares Spike Higher
Retirement FrontLine: Ex-Dividend Weekly Digest, Week Beginning November 30, 2016 (Seeking Alpha)

Bank of America maintained Plains All American Pipeline (NYSE: PAA) with a Buy rating and raised the price objective from $55.00 to $58.00.

Bank of America commented, "We raise our PO to $58 based on a 4.25% target yield on our annualized 1Q14E distribution of $2.46. PAA remains a top pick among large-cap MLPs given its exposure to solid crude oil fundamentals, strong balance sheet, and savvy management team. We also see the potential for our 2013 EBITDA estimate to prove conservative should current robust fundamentals persist longer than expected (we forecast 2% YoY 2013 EBITDA growth), including continued wide crude oil grade differentials."

Plains All American closed at $53.63 on Friday.

Latest Ratings for PAA

Nov 2015Deutsche BankMaintainsHold
Nov 2015Deutsche BankMaintainsHold
Nov 2015RBC CapitalMaintainsOutperform

View More Analyst Ratings for PAA
View the Latest Analyst Ratings

Posted-In: Bank of AmericaAnalyst Color Price Target Analyst Ratings


Related Articles (PAA)

View Comments and Join the Discussion!

Get Benzinga's Newsletters