Raymond James Financial, Inc. Raises Inter Pipeline Ltd (IPL) Price Target to C$28.00
Inter Pipeline Ltd (TSE:IPL) had its target price boosted by Raymond James Financial, Inc. from C$26.00 to C$28.00 in a research note issued on Monday. The brokerage presently has a “market perform” rating on the stock. Raymond James Financial, Inc.’s price target points to a potential upside of 7.24% from the company’s previous close.
IPL has been the topic of several other reports. National Bank Financial lowered their price objective on shares of Inter Pipeline from C$32.00 to C$31.00 and set a “sector perform” rating on the stock in a research report on Friday, August 11th. Scotiabank lowered their price objective on shares of Inter Pipeline from C$29.00 to C$28.00 and set a “sector perform” rating on the stock in a research report on Monday, August 14th. BMO Capital Markets lowered their price objective on shares of Inter Pipeline from C$29.00 to C$27.00 in a research report on Friday, August 11th. AltaCorp Capital upgraded shares of Inter Pipeline from a “sector perform” rating to an “outperform” rating in a report on Tuesday, August 22nd. Finally, CIBC lowered their price target on shares of Inter Pipeline from C$32.00 to C$31.00 in a report on Monday, July 24th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Inter Pipeline has an average rating of “Buy” and a consensus price target of C$29.72.
Inter Pipeline (TSE:IPL) traded down C$0.93 during midday trading on Monday, reaching C$26.11. 1,486,793 shares of the company’s stock traded hands, compared to its average volume of 964,383. Inter Pipeline has a 12-month low of C$22.14 and a 12-month high of C$30.07.
In related news, insider James Joseph Madro acquired 2,200 shares of the business’s stock in a transaction dated Monday, August 21st. The stock was acquired at an average price of C$22.49 per share, with a total value of C$49,478.00. Also, insider Brent Heagy acquired 4,000 shares of the business’s stock in a transaction dated Wednesday, August 16th. The shares were bought at an average cost of C$23.06 per share, with a total value of C$92,240.00. In the last ninety days, insiders purchased 8,550 shares of company stock valued at $195,985.
Inter Pipeline Company Profile
Inter Pipeline Ltd. is a petroleum transportation, storage and natural gas liquids processing business. The Company’s segments include oil sands transportation business, conventional oil pipelines business, natural gas liquids (NGL) processing business and bulk liquid storage business. The Company geographical segments include Canada and Europe.
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