02:35 PM EDT, 05/18/2026 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

Our 12-month target of $25 (up $4) reflects a combination of our relative valuation and DCF model analyses. On a relative basis, we apply an 11.0x multiple of enterprise value to 2027 EBITDA, in line with peers. That approach yields a value of $22 per unit. Our DCF model uses medium-term FCF growth of 4.0% per year, 2.0% terminal growth, discounted at a WACC of 7.7%, and yields a value of $28 per unit. We lift our 2026 earnings per unit estimate by $0.24 to $1.85 and 2027's by $0.23 to $1.98. PAA has technically closed on the sale of its Canadian NGL assets to Keyera Corp. for approximately CAD5.3 billion in cash despite a challenge by the Canadian Competition Bureau. Should the Bureau prevail in court, we think it could demand a post-sale remedy, which might include forcing Keyera to either unwind this recent transaction, or forcing a sale of some or all of the NGL assets to a third party. We continue to see crude oil logistics as PAA's core strategic business.