US and Canada explore the possibility of reopening the Keystone XL pipeline during trade discussions - FT
Keystone Pipeline Consideration: The Canadian government is exploring the possibility of restarting the Keystone Pipeline as part of negotiations to ease U.S. tariffs on steel and aluminum, according to Canada's energy minister Tim Hodgson.
Impact on Energy Security: Hodgson emphasized that increasing U.S. access to Canadian oil sands could enhance continental energy security, despite the Keystone XL project being previously canceled due to environmental concerns.
Trade with 70% Backtested Accuracy
Analyst Views on SOBO
About SOBO
About the author
Jefferies Upgrades South Bow to Buy Due to Strong Growth Plan Execution
Jefferies Upgrade: South Bow (SOBO) shares rose 1.9% after Jefferies upgraded the company to Buy from Hold, increasing the price target to C$45, citing confidence in the company's growth plan following discussions with management.
Growth Strategy: The company aims to triple its size by increasing barrel collection in Alberta and enhancing its pipeline to Cushing, with a focus on maximizing tolls and leveraging existing corridors.
Value Proposition: SOBO's direct route to the U.S. Gulf Coast is seen as a strong asset, potentially aiding in recontracting Keystone and supporting upstream growth through a recent memorandum of understanding.
Investment Outlook: Analyst Sam Burwell notes that SOBO shares currently reflect little growth potential, while offering a solid baseline with a 7%-plus dividend yield and over 10% total return, even if significant growth does not occur.
NYSE Content Advisory: Pre-Market Update + Berkshire Hathaway Makes $4.3 Billion Tech Investment
Market Performance: The Dow and S&P 500 experienced declines of over 1%, primarily due to a 2% drop in Nvidia amid growing uncertainty in the AI sector.
Corporate Earnings and Investments: Home Depot reported its earnings, while Target is set to release its results soon. Berkshire Hathaway announced a $4.3 billion investment in Alphabet, boosting its shares by over 3%.
Economic Indicators: The release of the Fed minutes from the October meeting is anticipated, with current rate-cut odds at 45%, a significant drop from 95% a month prior.
Milestones: MP Materials celebrated its 5-year listing anniversary, and South Bow highlighted its commitment to long-term growth and value creation.
