Group 1 - Morgan Stanley raised the price target on Brookfield Infrastructure (BIPC) to $53 from $50 while maintaining an Equal Weight rating on the shares [1] - The firm is updating price targets for North American Midstream & Renewable Energy Infrastructure stocks under its coverage [1] - A framework agreement for a Canadian crude oil pipeline project and oil sands carbon capture has been reached, but several unknowns remain [1]

Core Viewpoint - Morgan Stanley analyst Robert Kad has raised the price target for South Bow (SOBO) to C$35 from C$34 while maintaining an Underweight rating on the shares, indicating a cautious outlook on the stock despite the price target increase [1]. Group 1: Price Target and Rating - The price target for South Bow (SOBO) has been increased to C$35 from C$34 [1]. - The firm continues to hold an Underweight rating on SOBO shares, suggesting a bearish stance on the stock's performance [1]. Group 2: Industry Context - The update on price targets is part of a broader review of North American Midstream & Renewable Energy Infrastructure stocks under Morgan Stanley's coverage [1]. - A framework agreement for a Canadian crude oil pipeline project and oil sands carbon capture has been reached, but there are still several unknowns that remain, indicating potential uncertainties in the sector [1].

Core Viewpoint - Morgan Stanley has lowered the price target for Energy Transfer LP (ET) to $19 from $21 while maintaining an Overweight rating on the shares [1] Group 1: Price Target Adjustment - The price target for Energy Transfer LP has been reduced to $19 from $21 [1] - Morgan Stanley continues to hold an Overweight rating on Energy Transfer LP shares [1] Group 2: Industry Context - The firm is updating price targets for North American Midstream & Renewable Energy Infrastructure stocks under its coverage [1] - A framework agreement for a Canadian crude oil pipeline project and oil sands carbon capture has been reached, but several unknowns remain [1]