CIBC Upgrades South Bow (NYSE:SOBO) to Outperform

CIBC upgraded shares of South Bow (NYSE:SOBO) from a neutral rating to an outperform rating in a report issued on Thursday,BayStreet.CA reports. CIBC currently has $25.00 price target on the stock, up from their previous price target of $23.00.

SOBO has been the subject of a number of other reports. Scotiabank raised shares of South Bow to a “hold” rating in a research note on Friday, December 27th. US Capital Advisors upgraded South Bow to a “strong-buy” rating in a research report on Monday, October 28th. Wells Fargo & Company cut shares of South Bow from a “hold” rating to a “strong sell” rating in a report on Wednesday, December 18th. Jefferies Financial Group initiated coverage on shares of South Bow in a report on Tuesday, October 8th. They set a “hold” rating for the company. Finally, Cibc World Mkts upgraded shares of South Bow to a “hold” rating in a research note on Friday, October 11th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, one has assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $25.00.

South Bow Price Performance

NYSE:SOBO opened at $23.84 on Thursday. The company has a 50 day moving average of $24.44. South Bow has a 1 year low of $21.12 and a 1 year high of $27.30.

South Bow Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be issued a $0.50 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $2.00 annualized dividend and a dividend yield of 8.39%. South Bow’s payout ratio is currently 114.29%.

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.