Today TransCanada Corporation (TSE:TRP) Has Been Upgraded by CIBC World Markets to a “Sector Outperformer”


TransCanada Corporation (TSE:TRP) Stock Upgrade

CIBC World Markets has increased shares of TransCanada Corporation (TSE:TRP) to a respectable “Sector Outperformer” rating in a recent research report shared with investors and clients today, and has set an estimated 52-week price target of $56.00, which is 35.86% from TRP’s share price currently.

From a total of 12 analysts covering TransCanada Corp (TSE:TRP) stock, 9 rate it a ”Buy”, 0 a “Sell”, and 6 a ”Hold”. This means that 60% of the ratings are positive. The highest target price is $44.85 while the lowest target price is $33.64. The mean of all analyst targets is $40.55 with a 37.13% above today’s ($41.42) stock price. TransCanada Corp was the topic of 8 analyst reports since August 4, 2015 according to the firm StockzIntelligence Inc. National Bank Canada maintained shares on November 19 with “Sector Perform” rating.

Approximately 904,524 shares of stock traded hands. TransCanada Corporation (TSE:TRP) has declined 26.16% since May 4, 2015 and is downtrending. It has underperformed by 25.08% the S&P500.

 Today TransCanada Corporation (TSE:TRP) Has Been Upgraded by CIBC World Markets to a

TransCanada Corporation is an energy infrastructure company. The company has a market cap of $29.37 billion. The Firm operates through three divisions: Natural Gas Pipelines, Liquids Pipelines and Energy. It has 17.57 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 (TRP).