“Given recent share price weakness, we believe a share buyback program could improve the capital allocation messaging and at a minimum, help solidify the ‘floor’ value for the stock. “While pushing out growth from new tankage is directionally negative, we believe a lower year for capex in 2022 may increase the chances that the company moves to buy back shares, which we would view positively,” he said. After coming out of bankruptcy protection late last year, venerable guitar brand Gibson made a triumphant return to the NAMM Conference in Anaheim, California this year with some rock star help. The company is headquartered in Vancouver, British Columbia and currently employs 29,000 full-time employees. engages in the designing, distributing and retail of athletic apparel and accessories. Kwan said those lower spending levels could be a positive for shareholders as Gibson could deploy cash elsewhere. 1818 Cornwall Ave, 400 - 1818 Cornwall Avenue Vancouver, BC. While analysts say the delay could cause Gibson to push out some of its spending on the new farm, the company already indicated capital spending growth would be below average this year. Gibson is in the process of building out its capacity at the key Edmonton Terminal to handle the increased volumes of the new pipeline, with plans to add 435,000 barrels worth of capacity that will be in service early next year. Kwan is among the most bullish analysts who follow Gibson, with an “outperform” rating on shares of the company and a 12-month price target of $27. In a note to clients, RBC Analyst Robert Kwan said the sell-off appeared “unwarranted,” and that while Trans Mountain’s delays would have some impact on Gibson, he sees no reason for investors to panic. Shares of Gibson fell more than five per cent to rank as the worst performer in the TSX energy subgroup by some margin, as investors digested how the company would fare after the pipeline expansion’s in-service date was pushed out by nine-months to the third quarter of 2023. after shares of the company were battered in Tuesday’s trade. The analyst community isn’t sweating the impact of the delayed launch of the Trans Mountain pipeline expansion on tank-farm giant Gibson Energy Inc.