Goldman Sachs Upgrades Plains All American (PAA) to Conviction Buy

Goldman Sachs upgraded Plains All American (NYSE: PAA) to Conviction Buy with a price target of $100 (up from $93).

The firm said Plains All American have leverage to several key midstream themes, including: oil infrastructure growth; continued crude oil price volatility and wide basis differentials, which drive higher logistics margins, strong financial profile with high growth, high coverage, low leverage, and largely fee-based cash flow.

Goldman also sees acquisitions and an underutilized pipeline as attractive "call options" on future growth.

For an analyst ratings summary and ratings history on Plains All American click here. For more ratings news on Plains All American click here.

Shares of Plains All American closed at $78.70 yesterday.

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