---
title: "Research Alert: CFRA Keeps Hold Opinion On Lp Units Of Plains All America"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/286808391.md"
description: "CFRA maintains a Hold opinion on Plains All America (PAA) units, setting a 12-month target of $25. This target is based on a relative valuation and DCF model, estimating a value of $22 per unit from EBITDA and $28 per unit from DCF. PAA's earnings per unit estimates for 2026 and 2027 have been raised. The company has completed the sale of its Canadian NGL assets to Keyera Corp. for CAD5.3 billion, despite potential legal challenges from the Canadian Competition Bureau."
datetime: "2026-05-18T18:35:00.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/286808391.md)
  - [en](https://longbridge.com/en/news/286808391.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/286808391.md)
---

# Research Alert: CFRA Keeps Hold Opinion On Lp Units Of Plains All America

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.

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

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- [PAA.US](https://longbridge.com/en/quote/PAA.US.md)

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