RBC Capital Markets raised its price target on TC Energy Corp. (TRP.TO, TRP) to $74 from $71.
Analyst Maurice Choy maintained an Outperform rating on shares of the Calgary-based energy company.
"While the weaker-than-expected 2025 EPS guidance and the lack of new growth announcements likely weighed on the stock's sentiment following the release of TC Energy's Q4/24 results, investors can look forward to favourable updates in the coming quarters that not only should position the company to extend its 5-7% EBITDA CAGR beyond 2027, but also de-risk the company's business," Choy said in a note to clients.
"Importantly, with gas and electricity opportunities seemingly abundant, we like that TC Energy is steadfast on deleveraging towards its 4.75x debt/EBITDA target and is laser focused on maximizing the spread between its earned returns and its cost of capital," the analyst said.
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)
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