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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (81051)	4/1/2020 7:19:46 AM
From: Goose94	Read Replies (1) of 202275

Inter Pipeline (IPL-T) Imagine that a Speculative Buy for a Blue Chip Pipeline Play. Industrial Alliance Securities analyst Elias Foscolos boosted Inter Pipeline to "speculative buy" from "hold." Mr. Foscolos continues to target the shares at $11. Analysts on average target the shares at $15.22. Mr. Foscolos thinks the "right steps are being taken" by Inter Pipeline to adjust to the current market environment. On Monday before the bell, Inter Pipeline announced a cut to its monthly dividend by 72 per cent to four cents per share from 14.25 cents and a suspension to its premium dividend and dividend reinvestment plan (DRIP), a move Mr. Foscolos thinks was not surprising and provides it greater flexibility for its capital program. He says in a note: "Following [Monday's] announcement of IPL's dividend cut, the company's share price slightly fell just marginally more than the sector. Given IPL's large capital program and previously non-sustainable payout ratio, a dividend reduction and elimination of the DRIP will help. We have maintained our long-term outlook as the actions being taken by the company to preserve its financial flexibility are its best options given the current economic environment."

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