TransCanada’s (TRP) “Outperform” Rating Reaffirmed at Scotiabank
Scotiabank reaffirmed their outperform rating on shares of TransCanada Co. (TSE:TRP) (NYSE:TRP) in a research report released on Thursday morning. They currently have a C$69.00 target price on the stock.
A number of other research firms have also commented on TRP. TD Securities reissued a buy rating and issued a C$67.00 price target on shares of TransCanada in a research report on Tuesday, September 27th. CIBC increased their price target on TransCanada from C$59.00 to C$66.00 in a research report on Wednesday, July 20th. CSFB increased their price target on TransCanada from C$64.00 to C$70.00 in a research report on Monday, July 25th. Royal Bank Of Canada reaffirmed an outperform rating and set a C$72.00 target price on shares of TransCanada in a research report on Thursday. Finally, Bank of America Corp. reaffirmed a buy rating and set a C$68.00 target price on shares of TransCanada in a research report on Thursday, September 1st. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. The company currently has an average rating of Buy and an average price target of C$63.77.
TransCanada (TSE:TRP) traded up 0.07% during trading on Thursday, reaching $60.42. 207,209 shares of the company’s stock were exchanged. TransCanada has a 12 month low of $40.58 and a 12 month high of $63.41. The firm’s market cap is $48.34 billion. The firm’s 50-day moving average price is $60.67 and its 200-day moving average price is $58.85.
In other news, Director Christine R. Johnston sold 430 shares of TransCanada stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of C$61.15, for a total transaction of C$26,294.50.
TransCanada Corporation (TransCanada) is an energy infrastructure company. The Company operates through three segments: Natural Gas Pipelines, Liquids Pipelines and Energy. The Natural Gas Pipelines segment consists of the Company’s investments in approximately 67,300 kilometers (km) (approximately 41,900 miles) of regulated natural gas pipelines and over 250 billion cubic feet (Bcf) of regulated natural gas storage facilities.
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