Gibson Energy Inc. (GEI.TO) was downgraded to Hold from Buy at TD Securities on Tuesday.
Analyst Aaron MacNeil raised his price target on shares of the Canadian midstream oilfield services company to $25 from $24 following its site tour and corporate update last week.
"Leading up to/following this event, its share price has outperformed and now approaches our raised $25 target price," MacNeil said in a note to clients.
"We believe our positive thesis on this name following the Q4/24 weakness has played out, with growth opportunities presented appearing longer-dated in the context of current market conditions," the analyst said.
"Our previous investment thesis was based on value recognition for marketing normalization as well as 2025 capital spending and follow-on growth in infrastructure performance. This has now occurred, in our view."
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)