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What's Going On With Gibson Energy Shares Today

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·1 min read
In this article:
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  • RBC Capital analyst Robert Kwan raised the price target for Gibson Energy Inc. (TSX: GEI) (OTC: GBNXF) to C$28 from C$27 with an Outperform rating on the shares.

  • Kwan stated that Gibson Energy's shares continue to offer an attractive dividend yield (almost 6%) that is conservatively underpinned by cash flow (68% trailing DCF payout ratio), with confirmed growth expected to drive roughly 5% EBITDA growth into 2023.

  • The analyst sees numerous avenues for projects to extend growth past 2023 and increase the overall growth rate.

  • Kwan continues to view Gibson Energy's shares as having a high "floor" (i.e., less downside) given the conservative financial structure and the strategic nature of its asset base that could be attractive to potential strategic and financial acquirors.

  • Price Action: GEI shares traded higher by 1.65% at C$25.78 on TSX on the last check Wednesday.

Latest Ratings for GBNXF

Jul 2021

Scotiabank

Downgrades

Sector Outperform

Sector Perform

Apr 2015

JP Morgan

Maintains

Neutral

View More Analyst Ratings for GBNXF

View the Latest Analyst Ratings

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