Wall Street Analysts Are Bullish on Top Materials Picks
There’s a lot to be optimistic about in the Materials sector as 2 analysts just weighed in on TC Energy (TRP) and Waste Connections (WCN) with bullish sentiments.
TC Energy (TRP)
CIBC analyst Robert Catellier reiterated a Buy rating on TC Energy yesterday and set a price target of C$78.00. The company’s shares closed last Monday at $55.61, close to its 52-week high of $55.78.
According to TipRanks.com, Catellier is a 5-star analyst with an average return of 10.9% and a 77.6% success rate. Catellier covers the Basic Materials sector, focusing on stocks such as Pembina Pipeline, Inter Pipeline, and Gibson Energy.
TC Energy has an analyst consensus of Moderate Buy, with a price target consensus of $54.33.
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Waste Connections (WCN)
CIBC analyst Kevin Chiang maintained a Buy rating on Waste Connections yesterday and set a price target of $107.00. The company’s shares closed last Monday at $102.80, close to its 52-week high of $103.39.
According to TipRanks.com, Chiang is a 5-star analyst with an average return of 12.3% and a 65.6% success rate. Chiang covers the Services sector, focusing on stocks such as TFI International, Canadian Railway, and Canadian Pacific.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Waste Connections with a $109.22 average price target, implying an 8.6% upside from current levels. In a report released yesterday, Merrill Lynch also maintained a Buy rating on the stock with a $112.00 price target.
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