The Globe and Mail reports in its Wednesday, Nov. 5, edition that TD Cowen analyst Aaron MacNeil, in response to "slightly negative" third quarter results, trimmed his Gibson Energy share target to $23 from $24, while maintaining a "hold" recommendation. The Globe's David Leeder writes in the Eye On Equities column that analysts on average target the shares at $26.13. Mr. MacNeil says in a note: "As expected, there were no new meaningful disclosures ahead of its upcoming IR day and the quarter was broadly in-line. Gibson has now disclosed several quarters of consistent marketing performance, which we now view as the status quo and we are reducing our go-forward marketing segment estimates to reflect this dynamic until Canadian egress fundamentals change." The Globe reported on June 18 that Mr. MacNeil had downgraded Gibson Energy to "hold" from "buy." It was then worth $24.27. The Globe reported on July 31 that National Bank Financial analyst Patrick Kenny continued to rate Gibson "sector perform." Its shares could then be had for $24.98. The Globe reported on Sept. 9 that BMO Nesbitt Burns analyst Ben Pham had downgraded Gibson to "market perform" from "outperform." It was then worth $26.64.
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