There’s a lot to be optimistic about in the Conglomerates sector as 2 analysts just weighed in on TC Energy (TRP) and Air Canada (ACDVF) with bullish sentiments.
TC Energy (TRP)
In a report released today, Benjamin Pham from BMO Capital maintained a Buy rating on TC Energy, with a price target of $70.00. The company’s shares closed last Friday at $50.95, close to its 52-week high of $51.22.
According to TipRanks.com, Pham is a 5-star analyst with an average return of 14.5% and a 80.5% success rate. Pham covers the Utilities sector, focusing on stocks such as Brookfield Renewable Partners, Northland Power, and AltaGas.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for TC Energy with a $58.43 average price target, implying a 14.7% upside from current levels. In a report issued on May 7, CIBC also reiterated a Buy rating on the stock with a C$70.00 price target.
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Air Canada (ACDVF)
BMO Capital analyst Fadi Chamoun maintained a Buy rating on Air Canada today and set a price target of $33.00. The company’s shares closed last Friday at $20.50.
According to TipRanks.com, Chamoun is a 5-star analyst with an average return of 21.4% and a 82.0% success rate. Chamoun covers the Industrial Goods sector, focusing on stocks such as Canadian National Railway, Kansas City Southern, and TFI International.
Currently, the analyst consensus on Air Canada is a Moderate Buy with an average price target of $25.32, which is a 31.1% upside from current levels. In a report issued on April 27, RBC Capital also maintained a Buy rating on the stock with a C$24.00 price target.
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