Inter Pipeline (IPL) Price Target Cut to C$28.00

Inter Pipeline (TSE:IPL) had its price objective reduced by research analysts at Canaccord Genuity from C$30.00 to C$28.00 in a research report issued on Wednesday. Canaccord Genuity’s price target indicates a potential upside of 21.95% from the company’s previous close.

Several other research analysts have also weighed in on IPL. BMO Capital Markets reissued an “outperform” rating and set a C$28.00 price objective on shares of Inter Pipeline in a research note on Friday, November 10th. CIBC reduced their price objective on shares of Inter Pipeline from C$31.00 to C$30.00 in a research note on Monday, November 13th. GMP Securities lifted their price objective on shares of Inter Pipeline from C$29.00 to C$29.50 in a research note on Monday, November 13th. Raymond James Financial lifted their price objective on shares of Inter Pipeline from C$26.00 to C$28.00 and gave the stock a “market perform” rating in a research note on Monday, November 13th. Finally, TD Securities lifted their price objective on shares of Inter Pipeline from C$33.00 to C$35.00 and gave the stock a “buy” rating in a research note on Tuesday, December 19th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of C$29.61.

Inter Pipeline (TSE:IPL) traded up C$0.38 during trading on Wednesday, reaching C$22.96. 1,272,126 shares of the company traded hands, compared to its average volume of 1,071,651. Inter Pipeline has a twelve month low of C$21.62 and a twelve month high of C$29.79. The company has a market cap of $8,580.00, a price-to-earnings ratio of 16.31 and a beta of 0.27.

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

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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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