JPMorgan Chase & Co. Begins Coverage on South Bow (NYSE:SOBO)

Research analysts at JPMorgan Chase & Co. assumed coverage on shares of South Bow (NYSE:SOBO) in a research note issued on Friday,Benzinga reports. The brokerage set a “neutral” rating and a $28.00 price target on the stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 7.61% from the company’s previous close.

A number of other analysts have also weighed in on the company. Royal Bank of Canada reissued an “outperform” rating on shares of South Bow in a research note on Friday, March 7th. Wells Fargo & Company lowered shares of South Bow from a “hold” rating to a “strong sell” rating in a report on Wednesday, December 18th. TD Securities initiated coverage on shares of South Bow in a report on Wednesday, January 15th. They set a “hold” rating for the company. CIBC lowered South Bow from a “sector outperform” rating to a “neutral” rating and set a $25.00 price target for the company. in a research report on Friday, March 7th. Finally, Wolfe Research downgraded South Bow from an “outperform” rating to a “peer perform” rating in a report on Friday, March 7th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $26.25.

South Bow Stock Performance

Shares of NYSE:SOBO opened at $26.02 on Friday. The stock has a market cap of $5.41 billion and a PE ratio of 14.06. The stock has a fifty day simple moving average of $25.27. South Bow has a 52 week low of $21.98 and a 52 week high of $27.60.

South Bow (NYSE:SOBO) last released its quarterly earnings data on Wednesday, March 5th. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.42 by $0.12. The company had revenue of $488.00 million during the quarter, compared to analysts’ expectations of $524.87 million. On average, equities research analysts predict that South Bow will post 1.74 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. FMR LLC bought a new stake in shares of South Bow during the fourth quarter valued at approximately $461,249,000. Capital International Investors purchased a new stake in shares of South Bow during the 4th quarter valued at about $315,469,000. Price T Rowe Associates Inc. MD purchased a new position in shares of South Bow during the fourth quarter valued at approximately $290,786,000. Vanguard Group Inc. bought a new position in South Bow during the fourth quarter valued at approximately $206,467,000. Finally, Bank of Montreal Can bought a new stake in South Bow in the 4th quarter worth approximately $126,068,000.

South Bow Company Profile

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.