TSX:TRP - Post Discussion
Post by
TeamCommonSense on Nov 08, 2024 12:12pm
Analyst update
* Scotia’s Robert Hope hiked his target for TC Energy Corp. (TRP-T) to $74 from $68 with a “sector outperform” rating. Other changes include: BMO’s Ben Pham to $66 from $55 with a “market perform” rating, RBC’s Maurice Choy to $71 from $67 with an “outperform” rating, ATB Capital Markets’ Nate Heywood to $65 from $64 with a “sector perform” rating and CIBC’s Robert Catellier to $67 from $66 with a “neutral” rating. The average is $66.08.
“Besides another solid set of quarterly results (supporting the directional guidance upgrade for 2024 EBITDA), we believe TC Energy drove home its core messages on seeking to deliver attractive risk-adjusted growth in a financially disciplined manner, with the market likely having better confidence in TC Energy’s deleveraging journey and an improved perception of its capital delivery credentials (particularly with the SGP cost reduction),” said Mr. Choy. “At the upcoming Investor Day, we believe investors can look forward to management’s multi-year growth guidance and strategy on gas and nuclear energy infrastructure, with a reinforced message on prioritizing balance sheet strength.”
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