There’s a lot to be optimistic about in the Conglomerates sector as 2 analysts just weighed in on TC Energy (TRP) and TC Pipelines (TCP) with bullish sentiments.
TC Energy (TRP)
In a report issued on October 6, Robert Kwan from RBC Capital maintained a Buy rating on TC Energy, with a price target of C$81.00. The company’s shares closed last Monday at $43.36.
According to TipRanks.com, Kwan is a 5-star analyst with an average return of 10.8% and a 69.7% success rate. Kwan covers the Utilities sector, focusing on stocks such as Brookfield Infrastructure, AltaGas, and Fortis.
TC Energy has an analyst consensus of Strong Buy, with a price target consensus of $55.54, implying a 26.7% upside from current levels. In a report issued on September 28, Stifel Nicolaus also maintained a Buy rating on the stock with a C$80.00 price target.
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TC Pipelines (TCP)
RBC Capital analyst T J Schultz maintained a Buy rating on TC Pipelines on October 6 and set a price target of $44.00. The company’s shares closed last Monday at $30.13.
According to TipRanks.com, Schultz is a 5-star analyst with an average return of 8.8% and a 57.1% success rate. Schultz covers the Industrial Goods sector, focusing on stocks such as Enterprise Products Partners, NGL Energy Partners, and Rattler Midstream.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for TC Pipelines with a $41.67 average price target.
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