Plains All American Pipeline LP

PAA · NASDAQ

$25.49+$0.24 (+0.95%)TodayMarket closed · Oct 20, 7:50 PM ET

Prev close $25.25

PAA analyst rating

BuyConsensus of 14 analysts over the last 12 months. 50% rate it a buy.

Strong buy1
Buy6
Hold6
Underperform1
Sell0

12-month price target · 19 analysts

Average $26.06 (+2.2% upside)

Low: $19.93
Now: $25.49
High: $31.50

Upgrades and downgrades

The latest rating actions, newest first

PAA analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Jefferies	Oct 9, 2026	Initiates	Buy	$27.00	58%
UBS	Oct 9, 2026	Maintains	Buy	$30.00 → $31.00	60%
UBS	Sep 21, 2026	Maintains	Buy	$27.00 → $28.00	60%
Barclays	Sep 21, 2026	Maintains	Underweight	$23.00 → $24.00	71%
Mizuho	Sep 21, 2026	Maintains	Outperform	$27.00 → $30.00	71%
Citigroup	Sep 17, 2026	Maintains	Neutral	$22.00 → $25.00	66%
Scotiabank	Sep 10, 2026	Maintains	Sector Outperform	$24.00 → $27.00	74%
JP Morgan	Sep 3, 2026	Maintains	Neutral	$24.00 → $27.00	57%
Morgan Stanley	Aug 18, 2026	Maintains	Equal-Weight	$25.00 → $26.00	61%
RBC Capital	Aug 17, 2026	Maintains	Sector Perform	$23.00 → $26.00	65%

The case for and against

Updated Oct 31, 2025

Bull case

Plains All American Pipeline LP is well-positioned to capitalize on the increasing crude oil production in North America, particularly in the Permian Basin, due to its extensive asset footprint in pipeline transportation, terminaling, storage, and gathering of crude oil and natural gas liquids. The company is actively focused on improving governance standards, which enhances investor confidence and could lead to better overall performance. Furthermore, potential catalysts, such as successful de-leveraging of its balance sheet, growing distributions, and favorable crude oil price differentials, indicate opportunities for significant cash flow upside and sustained growth.

Bear case

Plains All American Pipeline LP is facing a negative outlook due to crude oil volumes falling approximately 2% below expectations, influenced by adverse weather conditions and increased environmental remediation expenses impacting EBITDA. The company's downside scenario anticipates a deteriorating commodity price environment, leading to lower throughput and tariffs, resulting in an EBITDA that is projected to be about 20% below current estimates. Furthermore, various risks such as declining demand for crude oil, increased leverage, competitive pressures, and potential cost overruns or regulatory delays on growth projects pose additional threats to cash flow and financial stability.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.