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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
Jul 2017BMO CapitalMaintainsOutperform
Mar 2017Wells FargoInitiates Coverage OnOutperform
Sep 2016Bank of AmericaInitiates Coverage onBuy

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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