08:43 AM EDT, 05/17/2024 (MT Newswires) -- Pembina Pipeline ( PBA ) maintained its "outperform" rating and $58 target price following its investor day, RBC Capital Markets said Thursday.

The event supported its positive thesis for the shares, which fell 0.3% yesterday to $50.53, RBC said, citing Pembina's ability to leverage its footprint to capture growth in the Western Canadian Sedimentary Basin (WCSB).

RBC added that Pembina's shares will appeal to global investors given the favorable divergence in the WCSB rig count versus the US land rig count and Pembina's conservative financial strategy.

Meanwhile, National Bank of Canada on Friday retained Pembina's "sector perform" rating and $51 price target.