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.
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