Scotiabank Issues Positive Forecast for South Bow (NYSE:SOBO) Stock Price

South Bow (NYSE:SOBO) had its price target boosted by Scotiabank from $24.00 to $26.00 in a note issued to investors on Thursday, Marketbeat Ratings reports. The firm presently has a “sector perform” rating on the stock. Scotiabank’s price target would indicate a potential upside of 3.54% from the company’s previous close.

SOBO has been the topic of a number of other reports. CIBC raised South Bow from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $23.00 to $25.00 in a research report on Thursday, January 9th. US Capital Advisors upgraded shares of South Bow to a “strong-buy” rating in a research report on Monday, October 28th. Wells Fargo & Company downgraded shares of South Bow from a “hold” rating to a “strong sell” rating in a research report on Wednesday, December 18th. TD Securities began coverage on shares of South Bow in a report on Wednesday, January 15th. They issued a “hold” rating for the company. Finally, Morgan Stanley started coverage on South Bow in a report on Friday, October 25th. They set an “underweight” rating on the stock. Two equities research analysts have rated the stock with a sell rating, four 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, the company currently has an average rating of “Hold” and a consensus target price of $25.50.

South Bow Stock Performance

South Bow stock traded up $0.14 during trading on Thursday, reaching $25.11. The company had a trading volume of 127,220 shares, compared to its average volume of 702,955. The business’s 50-day moving average is $24.04. South Bow has a 52 week low of $21.12 and a 52 week high of $27.30.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SOBO. Wiser Advisor Group LLC bought a new stake in South Bow in the 4th quarter worth approximately $27,000. Roxbury Financial LLC purchased a new position in shares of South Bow in the fourth quarter valued at $29,000. Assetmark Inc. bought a new stake in South Bow in the fourth quarter worth $33,000. Rhumbline Advisers purchased a new stake in South Bow during the fourth quarter valued at $34,000. Finally, Sit Investment Associates Inc. purchased a new position in shares of South Bow in the 4th quarter worth $34,000.

About South Bow

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.