The Globe and Mail reports in its Tuesday, Nov. 21, edition that Citi analyst Spiro Dounis has reaffirmed his "neutral" recommendation for Pembina Pipeline. The Globe's David Leeder writes in the Eye On Equities column that Mr. Dounis boosted his share target by $4 to $46. Analysts on average target the shares at $50.77. Mr. Dounis believes that "things are looking up" for Pembina. Mr. Dounis raised his full-year forecast for the Calgary-based company to reflect an "improved cash flow outlook." Mr. Dounis says in a note: "Pembina boasts a growth backlog of high-quality and low-carbon projects. However, the company already trades at a premium to peers and likely reflects most of these positive attributes. Pembina offers investors a unique dual track: a low-risk growing base business and one of the most holistic approaches to low-carbon growth among our coverage. Pembina's base business take-or-pay earnings profile bests its peers. Its growth backlog of low-carbon projects also stands out. That said, Pembina already trades at a premium, reflecting its lower risk profile. Its energy transition projects have the potential to offer new revenue streams, but are in early stages and present execution risk."