CIBC Lowers Inter Pipeline Ltd (IPL) Price Target to C$30.00
Inter Pipeline Ltd (TSE:IPL) had its target price dropped by equities research analysts at CIBC from C$31.00 to C$30.00 in a note issued to investors on Monday. CIBC’s price target indicates a potential upside of 14.90% from the company’s previous close.
Several other research firms have also recently issued reports on IPL. AltaCorp Capital raised Inter Pipeline from a “sector perform” rating to an “outperform” rating in a report on Tuesday, August 22nd. National Bank Financial dropped their price target on Inter Pipeline from C$32.00 to C$31.00 and set a “sector perform” rating on the stock in a report on Friday, August 11th. BMO Capital Markets dropped their price target on Inter Pipeline from C$29.00 to C$27.00 in a report on Thursday, August 17th. Raymond James Financial, Inc. dropped their price target on Inter Pipeline from C$30.00 to C$26.00 and set a “market perform” rating on the stock in a report on Monday, August 14th. Finally, Royal Bank Of Canada dropped their price target on Inter Pipeline from C$32.00 to C$30.00 and set an “outperform” rating on the stock in a report on Monday, August 14th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of C$29.72.
Inter Pipeline (TSE IPL) traded down C$0.93 during midday trading on Monday, hitting C$26.11. The company’s stock had a trading volume of 1,486,793 shares, compared to its average volume of 964,383. Inter Pipeline has a 52 week low of C$22.14 and a 52 week high of C$30.07.
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In other news, insider James Joseph Madro acquired 2,200 shares of the stock in a transaction on Monday, August 21st. The shares were purchased at an average cost of C$22.49 per share, for a total transaction of C$49,478.00. Also, insider Brent Heagy acquired 4,000 shares of the stock in a transaction on Wednesday, August 16th. The shares were purchased at an average price of C$23.06 per share, for a total transaction of C$92,240.00. Over the last quarter, insiders have acquired 8,550 shares of company stock worth $195,985.
About Inter Pipeline
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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