Stock Rating Downgrade
Reflecting eroding fundamentals and low Appreciation Potential, the Value Trend Rating for Plains GP Holdings LP (NASDAQ: PAGP) weakened of late. PAGP’s current Value Trend Rating is C and the prior Rating was B. Details supporting this lower rating are included in our next report.
Recent Price Action
Plains GP Holdings LP (NASDAQ: PAGP) stock closed at $17.31 on 3/1/24 after a modest gain of 0.6%. However, this advance was accompanied by exceptionally low trading volume at 49% of normal. The stock has risen 0.5% during the last week and has been strong relative to the market over the last nine months.
Current PriceTarget Research Rating
Reflecting future returns on capital that are forecasted to exceed the cost of capital, PAGP is expected to continue to be an important Value Builder.
Plains GP Holdings has a current Value Trend Rating of C (Neutral). The Value Trend Rating reflects very contradictory signals from PTR’s two proprietary measures of a stock’s attractiveness. Plains GP Holdings has a poor Appreciation Score of 30 but a good Power Rating of 82, leading to the Neutral Value Trend Rating.
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