Bank of America Comments On Plains All American Analyst Day

According to Bank of America, Plains All American (NYSE: PAA) held its 2011 Analyst meeting in Houston, TX.

Bank of America said that PAA's management provided an overview of its assets and reiterated its goal to grow cash distributions by 3-5% annually. “Overall, we see this growth target as reasonable, especially given PAA's extensive pipeline of organic growth opportunities in several prolific onshore resource plays such as the Bakken Shale, the Permian Basin, the Eagle Ford Shale, and the Granite Wash.”

Plains All American closed yesterday at $61.95.