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UPDATE: BMO Capital Markets Reiterates Outperform Rating, Raises PT on TransCanada Corporation

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In a report published Wednesday, BMO Capital Markets reiterated its Outperform rating on TransCanada Corporation (NYSE: TRP), and raised its price target from $50.00 to $52.00.

BMO Capital noted, “Our 2012 EPS drops to C$1.97 for 3Q, a delayed mainline ruling, and ongoing pressure on US pipes. Our 2013 ebbs C$0.03 as the expected lift from the mainline decision is offset by lower US pipe earnings while our 2014 rises to C$2.65. We're raising our target 4% to C$52 reflecting $2.5B in new projects in 2017: the Grand Rapids oil sands pipe and Napanee generation. Not included is a free option on the potential eastern oil mainline conversion, which carries $3/sh of option value.”

TransCanada Corporation closed on Tuesday at $44.45.

Latest Ratings for TRP

DateFirmActionFromTo
Jan 2015MacquarieInitiates Coverage onNeutral
Jan 2015TD SecuritiesUpgradesHoldBuy
Nov 2014Credit SuisseUpgradesNeutralOutperform

View More Analyst Ratings for TRP
View the Latest Analyst Ratings

Posted-In: BMO Capital MarketsAnalyst Color Price Target Analyst Ratings

 

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