BMO Capital Markets Maintained its market-perform rating on the shares of TC Energy (TRP.TO, TRP) while raising its price target to C$73.00 from C$70.00 following the pipeline and power company's investor day presentations.
"Rising North American gas demand combined with TRP's nimble management and premium energy infrastructure assets have generated an attractive multi-year growth profile of 5-7% that we believe could extend until at least the end of the decade. While we are maintaining our Market Perform rating, we are boosting our target price to $73 (vs. $70) as we believe there is upside to near- and long-term growth expectations on delivery to the target $6-7B net capex investment program while maintaining a 4.75x debt/EBITDA upper limit balance sheet," analyst Ben Pham noted.
(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)
Price: 68.30, Change: +0.39, Percent Change: +0.57
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