South Bow (NYSE:SOBO) Stock Price Expected to Rise, Scotiabank Analyst Says

South Bow (NYSE:SOBO) had its price target increased by Scotiabank from $24.00 to $26.00 in a report published on Thursday, Marketbeat Ratings reports. The firm currently has a sector perform rating on the stock.

A number of other research analysts have also recently commented on the company. US Capital Advisors upgraded South Bow to a “strong-buy” rating in a research note on Monday, October 28th. CIBC upgraded South Bow from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $23.00 to $25.00 in a report on Thursday, January 9th. Wells Fargo & Company downgraded South Bow from a “hold” rating to a “strong sell” rating in a report on Wednesday, December 18th. Tudor Pickering upgraded South Bow to a “strong-buy” rating in a report on Tuesday, November 19th. Finally, TD Securities initiated coverage on South Bow in a report on Wednesday, January 15th. They issued a “hold” rating for the company. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $25.50.

South Bow Price Performance

Shares of SOBO opened at $24.84 on Thursday. South Bow has a 52 week low of $21.12 and a 52 week high of $27.30. The firm has a fifty day moving average price of $24.03.

Institutional Trading of South Bow

A number of large investors have recently bought and sold shares of SOBO. Hennessy Advisors Inc. acquired a new stake in South Bow during the 4th quarter worth about $276,000. Nexus Investment Management ULC acquired a new stake in South Bow during the 4th quarter worth about $2,810,000. MassMutual Private Wealth & Trust FSB acquired a new stake in South Bow during the 4th quarter worth about $213,000. Viking Fund Management LLC acquired a new stake in South Bow during the 4th quarter worth about $740,000. Finally, Mutual Advisors LLC acquired a new stake in South Bow during the 4th quarter worth about $517,000.

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.