Market Overview

UPDATE: National Bank Financial Upgrades TransCanada Corporation to Sector Perform on Nebraska K-XL Approval

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)

National Bank Financial upgraded TransCanada Corporation (NYSE: TRP) from Underperform to Sector Perform and raised the price target from $42.50 to $51.00.

National Bank Financial noted, "TransCanada announced that Nebraska's Governor approved the re-route of the proposed $5.3 bln, 830 mbpd Keystone-XL pipeline stretching from Hardisty, Alberta to Steele City, Nebraska. The pipeline will now avoid the environmentally sensitive Sandhills area in Nebraska. … Overall, we increased our long-term EBITDA contributions from the Keystone System by ~$700 million (~14% of aggregate EBITDA) to ~$1.7 billion. Longer term, the Keystone System now represents ~30% of TransCanada's overall EBITDA contributions."

TransCanada Corporation closed at $49.13 on Tuesday.

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: National Bank FinancialAnalyst Color Upgrades Pre-Market Outlook Analyst Ratings

 

Related Articles (TRP)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters