Jefferies Initiates Coverage on Plains All American Pipeline With 'Buy' Rating
Plains All American Pipeline (PAA) rose slightly in Monday's trading after Jefferies initiated coverage with a Buy rating and set a $27 price target. The firm highlighted the company’s de-risked growth potential, suggesting it is undervalued by investors. Jefferies emphasized that Plains All American offers 'underappreciated' upside pricing potential due to its strong fundamentals in oil and gas storage and transportation. This move reflects growing confidence among analysts regarding PAA's long-term value proposition despite recent market volatility.
Topics: analyst coverage oil and gas transportation stock rating