Top Wall Street Forecasters Revamp Plains All American Pipeline Price Expectations Ahead Of Q4 Earnings

Core Viewpoint - Plains All American Pipeline is set to release its fourth-quarter financial results on February 7, 2025, with expectations of stable earnings and increased revenue compared to the previous year [1]. Financial Performance - Analysts predict quarterly earnings of 42 cents per share, unchanged from the same period last year [1]. - Projected quarterly revenue is $13.76 billion, up from $12.7 billion a year earlier [1]. Stock Offering and Market Reaction - On January 13, 2025, the company announced a $1 billion public offering of senior notes [2]. - Following the announcement, Plains All American Pipeline shares fell by 1.4%, closing at $20.01 [2]. Analyst Ratings and Price Targets - Raymond James analyst Justin Jenkins maintains a Strong Buy rating, raising the price target from $23 to $24 [3]. - Barclays analyst Theresa Chen holds an Underweight rating, increasing the price target from $18 to $19 [3]. - Scotiabank analyst Holly Stewart reinstated a Sector Outperform rating with a price target of $23 [3]. - Wells Fargo analyst Michael Blum downgraded the stock from Overweight to Equal-Weight, cutting the price target from $22 to $20 [3]. - Morgan Stanley analyst Robert Kad also downgraded the stock from Overweight to Equal-Weight, reducing the price target from $22 to $19 [3].