uploads///PAA analyst recom

Why Plains All American Pipeline’s Mean Price Target Has Risen

By

Sep. 17 2018, Updated 4:40 p.m. ET

Price targets rise

On September 14, Morgan Stanley raised its price target for Plains All American Pipeline (PAA) from $27 to $28. It also raised its price target for Plains GP Holdings (PAGP) from $26 to $28.

Plains All American Pipeline stock has risen ~18%, and Plains GP Holdings stock has risen ~10% so far in 2018. The stocks have outperformed the Alerian MLP ETF (AMLP) and the Energy Select Sector SPDR ETF (XLE) in that period. XLE has risen ~1%, and AMLP has fallen ~2% year-to-date.

Article continues below advertisement

Analyst recommendations for PAA

The above graph shows analysts’ recommendations and the mean price target for Plains All American Pipeline over the last 12 months. The mean price target for the stock has risen from $24.30 in September 2017 to $27.70 currently.

Of the 24 Reuters-surveyed analysts covering Plains All American Pipeline, five have rated the stock a “strong buy,” eight have rated it a “buy,” and ten have rated it a “hold.” One analyst has rated it a “strong sell.”

The mean price target of $27.70 implies an upside potential of ~10% from its current price of $25.20.

Recommendations for PAGP

Of the 19 analysts covering Plains GP Holdings, five have rated the stock a “strong buy,” seven have rated it a “buy,” and six have rated it a “hold.” One has rated it a “strong sell.”

The mean price target for Plains GP Holdings is $27.90. That implies an upside potential of 13% from its current price of $24.64.

Advertisement

More From Market Realist

    • CONNECT with Market Realist
    • Link to Facebook
    • Link to Twitter
    • Link to Instagram
    • Link to Email Subscribe
    Market Realist Logo
    Do Not Sell My Personal Information

    © Copyright 2021 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.