South Bow (NYSE:SOBO) Sets New 52-Week High – Time to Buy?

South Bow Co. (NYSE:SOBO)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $27.58 and last traded at $27.56, with a volume of 976194 shares trading hands. The stock had previously closed at $26.45.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Scotiabank increased their price target on South Bow from $24.00 to $26.00 and gave the stock a “sector perform” rating in a report on Thursday, February 13th. Wells Fargo & Company cut shares of South Bow from a “hold” rating to a “strong sell” rating in a research note on Wednesday, December 18th. TD Securities assumed coverage on shares of South Bow in a research note on Wednesday, January 15th. They set a “hold” rating on the stock. CIBC upgraded shares of South Bow from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $23.00 to $25.00 in a research report on Thursday, January 9th. Finally, Tudor Pickering raised South Bow to a “strong-buy” rating in a report on Tuesday, November 19th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $25.50.

South Bow Price Performance

The business has a 50-day moving average price of $24.49. The company has a market cap of $5.71 billion and a P/E ratio of 14.84.

Hedge Funds Weigh In On South Bow

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Wiser Advisor Group LLC purchased a new position in shares of South Bow in the fourth quarter valued at $27,000. Roxbury Financial LLC acquired a new position in shares of South Bow in the fourth quarter worth $29,000. BNP Paribas Financial Markets acquired a new stake in shares of South Bow during the fourth quarter valued at $29,000. Assetmark Inc. acquired a new position in South Bow in the 4th quarter valued at about $33,000. Finally, Rhumbline Advisers purchased a new position in South Bow in the 4th quarter valued at about $34,000.

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.