As previously reported yesterday, CIBC downgraded TC Energy (TRP) to Neutral from Outperformer with a price target of C$85, up from C$81. While the firm would characterize Q4 results as “operationally strong,” exemplified by delivery records seen across the company’s systems in both Canada and the U.S., recent price appreciation causes the firm to downgrade the shares.
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Read More on TRP:
- TC Energy price target raised to C$92 from C$84 at RBC Capital
- TC Energy downgraded to Hold from Buy at TD Securities
- TC Energy downgraded to Neutral from Outperformer at CIBC
- TC Energy price target raised to C$93 from C$80 at Wells Fargo
- TRP: Solid Q4 Beat but Slower Project Sanctions Keep Rating at Hold