RE:RE:Scotia comments on valuationMore from analysts:
DJ TC Energy Split May Offer Potential for Both Companies -- Market Talk
Friday, July 28, 2023, 1:59 PM ET
1358 ET - TC Energy managed a "fine enough" second quarter, but the planned spin-off of its liquids business became the focus, says Raymond James, which leans positive on the potential it could bring to both companies. It says a split is intriguing, especially amid ongoing weakness in TC's stock and concerns around valuation and strategy that arose with news of sale of a stake in two gas pipelines earlier this week. Raymond James says the move should re-emphasis TC's utility-like businesses after shedding the slower-growth liquids businesses. It affirms a market perform stance on the shares, which are now down 5.9% at C$44.50 to widen the year-to-date drop to 18%. (robb.stewart@wsj.com; @RobbMStewart)
(END) Dow Jones Newswires
July 28, 2023 13:59 ET (17:59 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.