Are TransCanada (NYSE:TRP) Shares a ‘Buy’ Now? CIBC Has Upgraded The Stock


TransCanada (NYSE:TRP) Stock Upgrade

TransCanada (NYSE:TRP) was upgraded by CIBC from a Sector Perform rating to a solid Sector Outperform rating in an interesting research report revealed on Monday morning.

From a total of 5 analysts covering TransCanada Corporation (NYSE:TRP) stock, 2 rate it a ”Buy”, 0 a “Sell”, and 2 a ”Hold”. This means that 50% of the ratings are positive. The highest target price is $44.83 while the lowest target price is $26.9. The mean of all analyst targets is $39.9 with a 88.16% above today’s ($30.65) stock price. TransCanada Corporation was the topic of 10 analyst reports since August 4, 2015 according to the firm StockzIntelligence Inc. Macquarie Research upgraded shares on December 2 to “Outperform” rating. BMO Capital Markets initiated TRP stock in a recent report from October 23 with “Outperform” rating. Finally, Zacks downgraded the stock to “Hold” rating in a report issued on a September 1.

Approximately 456,060 shares of stock traded hands. TransCanada Corporation (USA) (NYSE:TRP) has declined 33.16% since May 4, 2015 and is downtrending. It has underperformed by 32.08% the S&P500.

 Are TransCanada (NYSE:TRP) Shares a ‘Buy’ Now? CIBC Has Upgraded The Stock

TransCanada Corporation is an energy infrastructure company. The company has a market cap of $22.21 billion. The Firm operates through three divisions: Natural Gas Pipelines, Liquids Pipelines and Energy. It has 17.37 P/E ratio. Natural Gas Pipelines and Liquids Pipelines consist of its respective natural gas and liquids pipelines in Canada, the United States and Mexico, as well as its regulated natural gas storage activities in the United States.

According to Zacks Investment Research, “TransCanada is a North American energy company. They are focused on natural gas transmission and power services. Their pipeline transports the majority of Western Canada’s natural gas production to growing markets in Canada and the United States.” Get a free copy of the Zacks research report on TransCanada Corporation (USA) (TRP).