The Globe and Mail reports in its Tuesday, Nov. 18, edition that RBC Capital analyst Maurice Choy has reaffirmed his "outperform" recommendation for South Bow. The Globe's David Leeder writes in the Eye On Equities column that Mr. Choy gave his share target a $2 boost to $41. Analysts on average target the shares at $37.75. Mr. Choy says in a note: "With solid Q3/25 results, the realignment of market expectations with the release of its 2026 guidance, and South Bow's unchanged capital allocation priorities (including the sustainability of its attractive dividend), investor attention now turns to the Investor Day on Nov. 19. The company's leverage today may limit its pace of growth in the near-term; however, we anticipate investors will walk away from the Investor Day with a better understanding of South Bow's philosophy on and approach to growth (including its backlog), capital allocation, culture, particularly as it heads towards its four times debt/EBITDA target (potentially in 2028-2029)." The Globe reported on Aug. 8 that Mr. Choy continued to rate South Bow "outperform." It was then worth $27.39. The Globe reported on Oct. 10 that CIBC's Robert Catellier rated Souh Bow "neutral." It was then worth $38.17.