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

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

 

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