CIBC Upgrades South Bow (NYSE:SOBO) to Outperform

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

SOBO has been the subject of a number of other reports. Morgan Stanley initiated coverage on South Bow in a research report on Friday, October 25th. They issued an “underweight” rating for the company. Tudor Pickering raised South Bow to a “strong-buy” rating in a research note on Tuesday, November 19th. Cibc World Mkts upgraded South Bow to a “hold” rating in a report on Friday, October 11th. Scotiabank raised shares of South Bow to a “hold” rating in a report on Friday, December 27th. Finally, Wells Fargo & Company downgraded shares of South Bow from a “hold” rating to a “strong sell” rating in a research note on Wednesday, December 18th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, one has given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, South Bow presently has a consensus rating of “Hold” and an average target price of $25.00.

South Bow Trading Down 1.5 %

NYSE SOBO traded down $0.35 during trading hours on Thursday, hitting $23.30. 796,076 shares of the company’s stock traded hands, compared to its average volume of 673,235. South Bow has a 52-week low of $21.12 and a 52-week high of $27.30. The company’s 50-day moving average is $24.49.

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.