UPDATE: Canaccord Genuity Upgrades Pembina Pipeline Corp. to Buy

In a report issued Tuesday, analysts at Canaccord upgraded their rating on Pembina Pipeline Corporation PBA from Hold to Buy and boosted the price target to $48. With the news that Pembina has received commercial commitments to proceed with a $460 million propane-plus fractionator, the team of analysts at Canaccord led by Juan Plessis believes the company should be poised for great performance. Plessis noted Pembina has also discussed the potential for future gas plants which would help add to the company's growth portfolio. Pembina shares have rallied more than 2 percent to around $41.89 at last check.