TransCanada Co. (TRP) Price Target Raised to C$69.00
TransCanada Co. (TSE:TRP) had its price target hoisted by investment analysts at Scotiabank from C$68.00 to C$69.00 in a research note issued to investors on Thursday. The firm presently has an “outperform” rating on the stock. Scotiabank’s price target suggests a potential upside of 10.45% from the company’s previous close.
Several other equities research analysts have also issued reports on TRP. TD Securities restated a “buy” rating and issued a C$63.00 target price on shares of TransCanada in a report on Tuesday, July 19th. CIBC raised their target price on shares of TransCanada from C$59.00 to C$66.00 in a report on Wednesday, July 20th. CSFB raised their target price on shares of TransCanada from C$64.00 to C$70.00 in a report on Monday, July 25th. BMO Capital Markets raised their target price on shares of TransCanada from C$62.00 to C$65.00 in a report on Thursday, July 7th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a C$64.00 target price on shares of TransCanada in a report on Friday, June 10th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of C$62.62.
Shares of TransCanada (TSE:TRP) traded up 0.776% during midday trading on Thursday, reaching $62.955. 442,801 shares of the company’s stock were exchanged. The company’s market cap is $50.36 billion. TransCanada has a 12-month low of $40.58 and a 12-month high of $63.11. The stock’s 50 day moving average price is $61.06 and its 200 day moving average price is $55.73.
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In related news, Director Christine R. Johnston sold 430 shares of TransCanada stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of C$61.15, for a total transaction of C$26,294.50. Also, insider Karl Johannson sold 700 shares of TransCanada stock in a transaction dated Friday, August 5th. The shares were sold at an average price of C$60.99, for a total transaction of C$42,693.00.
TransCanada Corporation (TransCanada) is an energy infrastructure company. The Company operates through three segments: Natural Gas Pipelines, Liquids Pipelines and Energy. The Natural Gas Pipelines segment consists of the Company’s investments in approximately 67,300 kilometers (km) (approximately 41,900 miles) of regulated natural gas pipelines and over 250 billion cubic feet (Bcf) of regulated natural gas storage facilities.
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