Market Overview

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

Related TRP
TC PipeLines, LP Announces Acquisition Of Remaining Interest in Bison Pipeline
GE Launches New Flagship NovaLT16 Gas Turbine and Signs MOU with TransCanada for Further Development
TransCanada CEO: Need for Keystone Greater Than Ever (Fox Business)

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
Sep 2014Goldman SachsDowngradesNeutralSell
Aug 2014TD SecuritiesDowngradesBuyHold
Jul 2014Credit SuisseDowngradesOutperformNeutral

View More Analyst Ratings for TRP
View the Latest Analyst Ratings

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

 

Related Articles (TRP)

Around the Web, We're Loving...

Get Benzinga's Newsletters