Scotiabank Believes TransCanada Corporation (TRP) Won’t Stop Here


TransCanada Corporation (TRP) has received a rating update from a Wall Street analyst yesterday. Analyst Robert Hope from Scotiabank rated TransCanada Corporation (TRP) a Buy, setting a C$70 price target.

According to TipRanks.com, Hope is a 4-star analyst with an average return of 6.5% and a 65.8% success rate. Hope covers the Basic Materials sector, focusing on stocks such as Gibson Energy Inc, Enbridge Inc, and TransCanada.

TransCanada Corporation has an analyst consensus of Moderate Buy, with a price target consensus of C$68.50, implying an 8.6% upside from current levels. In a report issued on April 25, GMP FirstEnergy also reiterated a Buy rating on the stock with a C$69 price target.

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The company has a one-year high of C$64.46 and a one-year low of C$47.90. Currently, TransCanada Corporation has an average volume of 2.87M.

TransCanada Corp. is an energy infrastructure company. It operates through the following business segments: Canadian Natural Gas Pipelines, U.S. Natural Gas Pipelines, Mexico Natural Gas Pipelines, Liquids Pipelines, and Energy. The Canadian Natural Gas Pipelines segment consists of regulated natural gas pipelines.

The company’s shares closed on Monday at C$63.07, close to its 52-week high of C$64.46.

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