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UPDATE: Goldman Sachs Resumes Coverage on Plains All American Pipeline LP on Multiple Growth Drivers


In a report published Monday, Goldman Sachs analyst Steve Sherowski resumed coverage on Plains All American Pipeline LP (NYSE: PAA) with a Buy rating and $63.00 price target.

In the report, Goldman Sachs noted, “We reinstate our view on Plains All American (PAA) with a Buy rating and a $63, 12-month yield based price target. PAA's strong presence in the ‘Big Three' crude oil shale plays coupled with its broad pipeline footprint and access to demand hubs makes it the best positioned MLP to benefit from North American crude oil production growth. Its pipeline network combined with its volumetric scale allows it to optimize the crude oil supply chain to offer cost competitive solutions to its shippers. The acquisition of USD rail infrastructure also provides PAA with ‘best-in-class' access to “out of pipeline network” premium coastal markets. Its asset positioning provides it with a strong foundation for future growth anchored by its $3.6b portfolio backlog of commercial secured projects. Additionally, it has an established track record for acquisitions and successful integration of third party assets which we believe will continue to supplement organic growth.”

Plains All American Pipeline LP closed on Friday at $51.95.

Latest Ratings for PAA

Feb 2021Morgan StanleyMaintainsOverweight
Feb 2021Raymond JamesMaintainsOutperform
Jan 2021Raymond JamesMaintainsOutperform

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View the Latest Analyst Ratings


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