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Bullish Case: PBA's record profits, strategic expansion in physical capacity, and favorable long-term contracts improve earnings visibility, signalling a growth trajectory underpinned by strong sector fundamentals.


Bearish Case: High dividend payout ratios and an uncertain global energy landscape could pressure short-term liquidity, limiting operational flexibility and growth potential. Rising economic tensions may further hamper profitability.


Potential Outcomes:

1. Expansion success (25%): Improved revenue and EBITDA.

2. Dividend sustainability issues (15%): Potentially reduced investor confidence.

3. Macroeconomic downturn (20%): Lower energy prices affecting profit margins.

4. Complete contract fulfillment (20%): Increased stability and forecast accuracy.


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April 26, 2024


Pembina Pipeline Forecast

PBA        Pembina Pipeline
Price Forecast: NEUTRAL    Price Action: MEAN REVERTING (?)











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