South Bow (NYSE:SOBO – Get Free Report) had its price target lifted by stock analysts at National Bank Financial from $31.00 to $35.00 in a report released on Monday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. National Bank Financial’s price objective indicates a potential downside of 3.25% from the company’s previous close.
A number of other brokerages have also issued reports on SOBO. TD Securities reiterated a “hold” rating on shares of South Bow in a research note on Friday, May 1st. Weiss Ratings upgraded shares of South Bow from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 20th. Scotiabank boosted their price target on shares of South Bow from $34.00 to $36.00 and gave the stock a “sector perform” rating in a research note on Friday, May 8th. The Goldman Sachs Group began coverage on shares of South Bow in a research note on Monday, April 20th. They set a “sell” rating and a $29.00 price target on the stock. Finally, BMO Capital Markets restated a “market perform” rating on shares of South Bow in a research note on Monday, April 27th. Three analysts have rated the stock with a Buy rating, eight have given a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $31.57.
Check Out Our Latest Report on SOBO
South Bow Trading Up 0.6%
South Bow (NYSE:SOBO – Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.02). South Bow had a net margin of 21.32% and a return on equity of 15.24%. The company had revenue of $491.00 million during the quarter, compared to analyst estimates of $491.21 million. During the same period in the previous year, the company earned $0.47 EPS. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. As a group, research analysts anticipate that South Bow will post 1.75 earnings per share for the current fiscal year.
Hedge Funds Weigh In On South Bow
Several hedge funds have recently added to or reduced their stakes in SOBO. City Holding Co. increased its stake in South Bow by 277.4% in the fourth quarter. City Holding Co. now owns 1,000 shares of the company’s stock valued at $27,000 after purchasing an additional 735 shares during the last quarter. Parallel Advisors LLC increased its stake in South Bow by 140.5% in the first quarter. Parallel Advisors LLC now owns 849 shares of the company’s stock valued at $28,000 after purchasing an additional 496 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in South Bow by 157.3% in the third quarter. EverSource Wealth Advisors LLC now owns 1,055 shares of the company’s stock valued at $30,000 after purchasing an additional 645 shares during the last quarter. IFP Advisors Inc increased its stake in South Bow by 780.3% in the third quarter. IFP Advisors Inc now owns 1,206 shares of the company’s stock valued at $34,000 after purchasing an additional 1,069 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its stake in South Bow by 1,993.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,340 shares of the company’s stock valued at $35,000 after purchasing an additional 1,276 shares during the last quarter.
South Bow Company Profile
South Bow Corp is a strategic liquids pipeline company. It is a new liquids-focused midstream infrastructure company. South Bow Corp is based in Canada.
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