Scotiabank Remains a Buy on Pembina Pipeline (PBA)

Scotiabank reiterated a Buy rating on Pembina Pipeline (PBA), setting a C$69.00 price target. The firm’s call followed Pembina’s share close of C$66.85 last Thursday. In a separate report issued the same day, CIBC’s Robert Catellier also rated the stock Buy, while BMO Capital maintained a Hold on Pembina Pipeline (NYSE: PBA). Scotiabank cited the company’s latest earnings for the quarter ended March 31, when Pembina posted revenue of C$2.07 billion and net profit of C$498 million, compared with C$2.28 billion revenue and C$502 million net profit a year earlier. The article also notes that insider sentiment is negative, with more insider selling observed over the past quarter.