Canaccord Genuity Cuts Inter Pipeline (IPL) Price Target to C$28.00

Inter Pipeline (TSE:IPL) had its price target reduced by Canaccord Genuity from C$30.00 to C$28.00 in a note issued to investors on Wednesday. Canaccord Genuity’s price target points to a potential upside of 24.17% from the company’s previous close.

A number of other equities analysts have also recently issued reports on the company. BMO Capital Markets restated an “outperform” rating and set a C$28.00 price target on shares of Inter Pipeline in a report on Friday, November 10th. National Bank Financial upgraded Inter Pipeline from a “sector perform” rating to an “outperform” rating and set a C$31.00 price target on the stock in a report on Monday, January 29th. CIBC increased their price target on Inter Pipeline from C$30.00 to C$32.00 in a report on Tuesday, December 19th. TD Securities increased their price target on Inter Pipeline from C$33.00 to C$35.00 and gave the stock a “buy” rating in a report on Tuesday, December 19th. Finally, GMP Securities increased their price target on Inter Pipeline from C$29.00 to C$29.50 in a report on Monday, November 13th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of C$29.61.

Inter Pipeline (TSE:IPL) traded down C$0.03 during trading on Wednesday, hitting C$22.55. The company’s stock had a trading volume of 686,997 shares, compared to its average volume of 1,052,865. The company has a market cap of $8,580.00, a PE ratio of 16.34 and a beta of 0.27. Inter Pipeline has a 52-week low of C$21.62 and a 52-week high of C$29.79.

In other news, Director Alison Taylor Love bought 1,000 shares of the stock in a transaction dated Monday, January 15th. The shares were bought at an average cost of C$25.93 per share, with a total value of C$25,930.00. Also, insider David Michael Chappell bought 5,800 shares of the stock in a transaction dated Monday, January 15th. The shares were purchased at an average cost of C$25.89 per share, for a total transaction of C$150,162.00. Insiders have bought 7,120 shares of company stock worth $184,300 over the last ninety days.

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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.

Analyst Recommendations for Inter Pipeline (TSE:IPL)

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