The Globe and Mail reports in its Friday edition that ATB Capital analyst Nate Heywood has elevated his recommendation for Gibson Energy to "outperform" from "sector perform" after coming off restriction from covering the stock because of ATB's involvement in the previously announced South Texas Gateway Terminal acquisition. The Globe's Darcy Keith writes that Mr. Heywood gave his share target a $2 boost to $27. Analysts on average target the shares at $25.68. Mr. Heywood notes that the acquisition bolsters Gibson's storage position by more than eight million barrels and offers global export capabilities in Ingleside, Tex., outside of the congested Corpus Christi main harbour. Mr. Heywood says in a note: "Despite the dilutive equity funding, we have modelled the acquisition to be immediately accretive to AFFO on a per share basis, with our modelled 11 per cent increase to AFFO per share in 2024e. We have also modeled EBITDA to increase by about 30 per cent in 2024e and see room for further growth in 2025e. The acquisition should also strengthen GEI's contracted cash flow profile, with 80 per cent of infrastructure revenues expected to be take-or-pay and 95 per cent of revenues to be take-or-pay and fee-based."