Plains All American Pipeline, L.P. (PAA) Price Target Analysis
Updated Jul 2, 2026
Analyst Rating: Buy
Based on 42 analysts7.1% Below Target
PAA trades 7.1% below Wall Street's consensus target of $24.29.
Current Price$22.68
Average Target$24.29
Target
Current
Low$21.00
Median$24.00
High$27.00
Analyst Target Range
Forward P/E14.3x
(Value)
PEG Ratio—
Implied Growth-2.4%
(Declining)
Analyst Spread24.7%
(High Agreement)
Price Forecast (1 Year)
Last 12 months price action with 12-month analyst target path
Consensus Scenario Assumptions
The base valuation assumes PAA achieves its forward estimates and maintains a stable P/E multiple of 14.3x. This scenario reflects the blended consensus of 42 Wall Street analysts, balancing both positive catalysts and macroeconomic headwinds over the next 12 months.
PAA Price Target Analysis
Updated July 8, 2026As of July 8, 2026, Plains All American Pipeline, L.P. (PAA) has a Wall Street consensus price target of $24.29, based on estimates from 42 covering analysts. With the stock currently trading at $22.68, this represents a potential upside of +7.1%. The company has a market capitalization of $16.00B.
Analyst price targets range from a low of $21.00 to a high of $27.00, representing a 25% spread in expectations. The median target of $24.00 aligns closely with the consensus average. The tight target dispersion indicates high conviction among analysts.
The current analyst consensus rating is Buy, with 24 analysts rating the stock as a Buy or Strong Buy,17 rating it Hold, and 1 rating it Sell or Strong Sell. The positive sentiment balance indicates moderate optimism about the stock prospects.
From a valuation perspective, PAA trades at a trailing P/E of 13.7x and forward P/E of 14.3x. Analysts expect EPS to grow -2.4% over the next year.
Our proprietary valuation model, which blends historical multiples with forward estimates, suggests a base-case price target of $20.21, with bear and bull scenarios of $12.73 and $26.62 respectively. Model confidence stands at 50/100, reflecting moderate uncertainty in projections.
Investment Context: Price targets represent analyst expectations for the next 12 months and should be considered alongside your own research. Targets are based on analysts' assumptions about earnings growth, margins, and market conditions which may change. For sector-specific context, view other Energy stocks.
Analyst Sentiment Comparison
Industry Peer AnalysisAvg Peer Upside
+7.1%
Industry Consensus
Avg Forward P/E
15.7x
(Fair)
Peers with Coverage
10 / 10
Active Analyst Tracking
| Company | Market Cap | Price | Target | Upside Potential | Rating | Fwd P/E | Analysts |
|---|---|---|---|---|---|---|---|
 EPDEnterprise Products Partners L.P. | $81.4B | $37.64 | $39.25 | +4.3% | Buy | 12.9x | 45 |
 ETEnergy Transfer LP | $68.2B | $19.81 | $23.00 | +16.1% | Buy | 13.3x | 33 |
 MPLXMPLX Lp | $58.4B | $57.51 | $60.25 | +4.8% | Buy | 13.3x | 28 |
 WESWestern Midstream Partners, LP | $17.6B | $44.80 | $46.25 | +3.2% | Hold | 13.0x | 13 |
 PAGPPlains GP Holdings, L.P. | $4.9B | $24.65 | $24.60 | -0.2% | Buy | 15.2x | 29 |
 KMIKinder Morgan, Inc. | $72.3B | $32.49 | $36.67 | +12.9% | Hold | 22.1x | 34 |
 OKEONEOK, Inc. | $57.1B | $90.67 | $92.50 | +2.0% | Hold | 15.9x | 39 |
 TRGPTarga Resources Corp. | $58.8B | $273.81 | $276.67 | +1.0% | Buy | 25.3x | 34 |
 DKLDelek Logistics Partners, LP | $2.8B | $53.55 | $56.00 | +4.6% | Hold | 16.7x | 10 |
 OXYOccidental Petroleum Corporation | $51.4B | $51.68 | $63.46 | +22.8% | Buy | 9.2x | 52 |
PAA — Frequently Asked Questions
Quick answers to the most common questions about buying PAA stock.
What is the PAA stock price target for 2026?
The consensus price target for PAA is $24.29, close to the current price of $22.68 (7.1% implied move). Based on 42 analyst estimates, the stock appears fairly valued near current levels.
Is PAA a buy, sell, or hold?
PAA has a consensus rating of "Buy" based on 42 Wall Street analysts. The rating breakdown is predominantly bullish, with 24 Buy/Strong Buy ratings. The consensus 12-month price target of $24.29 implies 7.1% upside from current levels.
Is PAA stock overvalued or undervalued?
With a forward P/E of 14.3327x, PAA trades at a relatively low valuation. The consensus target of $24.29 implies 7.1% appreciation, suggesting the market may be pricing in risks.
How high can PAA stock go?
The most bullish Wall Street analyst has a price target of $27 for PAA, while the most conservative target is $21. The consensus of $24.29 represents the median expectation. Our quantitative valuation model projects a bull case target of $27 based on optimistic growth and margin assumptions. These targets typically reflect 12-month expectations.
How many analysts cover PAA stock?
PAA is heavily covered by Wall Street, with 42 analysts providing price targets and ratings. Of these, 1 have Strong Buy ratings, 23 have Buy ratings, 17 recommend Hold, and 1 have Sell or Strong Sell ratings. Higher analyst coverage generally indicates greater institutional interest and more reliable consensus estimates.
What is the PAA stock forecast?
The 12-month PAA stock forecast based on 42 Wall Street analysts shows a consensus price target of $24.29, with estimates ranging from $21 (bear case) to $27 (bull case). The median consensus rating is "Buy". Our proprietary valuation model produces a base case fair value of $20, with bear/bull scenarios of $13/$27.
What is PAA's fair value based on fundamentals?
Our quantitative valuation model calculates PAA's fair value at $20 (base case), with a bear case of $13 and bull case of $27. The model uses discounted cash flow analysis, historical growth rates, and margin mean-reversion to project FY+2 earnings, then applies an appropriate P/E multiple. The model confidence score is 50/100.
What is PAA's forward P/E ratio?
PAA trades at a forward P/E ratio of 14.3x based on next-twelve-months earnings estimates compared to a trailing P/E of 13.7x. The higher forward P/E suggests near-term earnings pressure. A forward P/E is useful for comparing valuations when earnings are expected to change significantly.
Should I buy PAA stock?
PAA appears fairly valued according to analysts, with a "Buy" rating and minimal upside to the $24.29 target. Consider your investment thesis and risk tolerance. This information is for educational purposes only. Always conduct your own research, consider your financial situation, and consult a financial advisor before making investment decisions.
Why do PAA price targets vary so much?
PAA analyst price targets range from $21 to $27, a 25% tight range reflecting strong analyst consensus. Differences stem from varying assumptions about revenue growth, profit margins, competitive dynamics, and valuation multiples. The $24.29 consensus represents the middle ground. Our model's $13-$27 range provides an independent fundamental perspective.
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