South Bow (NYSE:SOBO) Raised to Outperform at CIBC

South Bow (NYSE:SOBO) was upgraded by CIBC from a “neutral” rating to an “outperform” rating in a report issued on Thursday,BayStreet.CA reports. The brokerage currently has a $25.00 price objective on the stock, up from their previous price objective of $23.00. CIBC’s price objective points to a potential upside of 7.30% from the stock’s current price.

A number of other brokerages also recently commented on SOBO. Tudor Pickering upgraded South Bow to a “strong-buy” rating in a research note on Tuesday, November 19th. US Capital Advisors raised shares of South Bow to a “strong-buy” rating in a report on Monday, October 28th. Cibc World Mkts raised shares of South Bow to a “hold” rating in a report on Friday, October 11th. Jefferies Financial Group started coverage on shares of South Bow in a research report on Tuesday, October 8th. They issued a “hold” rating for the company. Finally, Wells Fargo & Company cut South Bow from a “hold” rating to a “strong sell” rating in a research report on Wednesday, December 18th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, one has issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, South Bow presently has an average rating of “Hold” and an average price target of $25.00.

South Bow Price Performance

Shares of SOBO stock traded down $0.35 during trading hours on Thursday, hitting $23.30. The company’s stock had a trading volume of 796,076 shares, compared to its average volume of 673,235. The stock has a 50 day simple moving average of $24.49. South Bow has a 12-month low of $21.12 and a 12-month high of $27.30.

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.