Wells Fargo analyst Praneeth Satish maintains $TC Energy (TRP.US)$ with a buy rating, and adjusts the target price from $51.77 to $51.9.
According to TipRanks data, the analyst has a success rate of 61.5% and a total average return of 7.6% over the past year.
Furthermore, according to the comprehensive report, the opinions of $TC Energy (TRP.US)$'s main analysts recently are as follows:
Post-spin, TC Energy is anticipated to trade at elevated multiples due to 'significant growth' in its gas assets compared to the spun-out entity, which possesses limited growth and de-leveraging prospects. TC Energy is considered to be in an advantageous position to capitalize on the increasing demand for both natural gas and nuclear.
The expectation for TC Energy's valuation has been adjusted to account for the separation of its Liquids Pipelines business into the newly formed South Bow Corporation.
TC Energy is undergoing a strategic transformation by spinning out its Liquids business. Following this move, it is anticipated that the company could achieve a re-rating to a premium multiple within the midstream sector due to its exclusive focus on gas pipelines and nuclear operations. An analyst has projected that at a 12-times valuation multiple, there could be a 25% potential upside from the present valuation.
Note:
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