CIBC Downgrades South Bow (NYSE:SOBO) to Neutral

South Bow (NYSE:SOBO) was downgraded by equities research analysts at CIBC from a “sector outperform” rating to a “neutral” rating in a research note issued on Friday, MarketBeat.com reports. They currently have a $25.00 price objective on the stock. CIBC’s target price would indicate a potential upside of 4.14% from the stock’s current price.

A number of other equities analysts have also issued reports on the company. Wolfe Research lowered South Bow from an “outperform” rating to a “peer perform” rating in a research report on Friday. Tudor Pickering raised shares of South Bow to a “strong-buy” rating in a report on Tuesday, November 19th. TD Securities started coverage on shares of South Bow in a report on Wednesday, January 15th. They set a “hold” rating for the company. Wells Fargo & Company lowered shares of South Bow from a “hold” rating to a “strong sell” rating in a research note on Wednesday, December 18th. Finally, Scotiabank lifted their price target on South Bow from $24.00 to $26.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 13th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $25.67.

South Bow Stock Down 2.5 %

South Bow stock opened at $24.01 on Friday. The firm has a market cap of $4.99 billion and a price-to-earnings ratio of 12.98. South Bow has a one year low of $21.12 and a one year high of $27.60. The business’s 50 day moving average is $24.58.

South Bow (NYSE:SOBO) last posted its earnings results on Wednesday, March 5th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.12. The firm had revenue of $488.00 million for the quarter, compared to analyst estimates of $524.87 million. On average, sell-side analysts anticipate that South Bow will post 1.74 earnings per share for the current year.

Institutional Trading of South Bow

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. FMR LLC bought a new position in South Bow during the 4th quarter worth $461,249,000. Capital International Investors bought a new position in shares of South Bow during the fourth quarter worth about $315,469,000. Price T Rowe Associates Inc. MD bought a new position in shares of South Bow during the fourth quarter worth about $290,786,000. Vanguard Group Inc. acquired a new stake in shares of South Bow in the 4th quarter worth about $206,467,000. Finally, Bank of Montreal Can bought a new stake in South Bow in the 4th quarter valued at about $126,068,000.

About South Bow

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.