TransCanada Co. (TRP) Lifted to “Action List Buy” at TD Securities
TransCanada Co. (TSE:TRP) (NYSE:TRP) was upgraded by equities researchers at TD Securities from a “buy” rating to an “action list buy” rating in a report issued on Friday. The firm currently has a C$81.00 target price on the stock, up from their previous target price of C$79.00. TD Securities’ price target indicates a potential upside of 29.50% from the stock’s previous close.
Separately, BMO Capital Markets reaffirmed an “outperform” rating and issued a C$73.00 price objective on shares of TransCanada in a research note on Monday, July 31st. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of C$72.00.
Shares of TransCanada (TRP) traded up C$0.80 on Friday, hitting C$62.55. 1,365,614 shares of the stock traded hands, compared to its average volume of 1,477,962. TransCanada has a 12 month low of C$57.93 and a 12 month high of C$65.24.
In other news, Director Geoff Murray sold 6,027 shares of TransCanada stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of C$63.33, for a total value of C$381,689.91. Also, Director Louis Bergeron bought 980 shares of the company’s stock in a transaction dated Tuesday, August 15th. The stock was purchased at an average cost of C$62.76 per share, for a total transaction of C$61,504.80. Over the last three months, insiders sold 8,527 shares of company stock worth $538,229.
TransCanada Corporation is an energy infrastructure company. The Company is engaged in the development and operation of North American energy infrastructure, including natural gas and liquids pipelines, power generation and natural gas storage facilities. Its segments include Canadian Natural Gas Pipelines, U.S.
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