Spectra Energy Corp. (SE) Upgraded To An Outperform Rating

Analysts at RBC Capital Markets have upgraded Spectra Energy Corp. (NYSE: SE) from a Sector Perform to an Outperform rating. The price target for Spectra Energy Corp. has been raised from $20 to $27.

Analysts expect an upside to the results in 2010, which will be driven by the strength in Field Services and Western Canada. Analysts expect the weak natural gas prices to be offset by the strengthening NGL prices, and higher volumes.

Analysts believe that the investments made by the company in pipeline infrastructure, to accommodate changing natural gas movement, should result in strong growth.

According to analysts, the company is well positioned to fund capital expenditure, which will drive growth in the future.