Trade Report: The TransCanada Co. (TRP) Receives C$62.50 Average Target Price from Analysts

The TransCanada Co. (TRP) Receives C$62.50 Average Target Price from Analysts

Shares of TransCanada Co. (TSE:TRP) have been assigned an average recommendation of “Buy” from the thirteen analysts that are covering the company. Six equities research analysts have rated the stock with a buy rating. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is C$62.50.

A number of analysts have commented on the stock. BMO Capital Markets upped their price target on shares of TransCanada from C$59.00 to C$62.00 and gave the company an “outperform” rating in a research report on Monday, June 20th. Scotiabank reissued an “outperform” rating and set a C$69.00 price objective on shares of TransCanada in a research report on Wednesday, September 28th. TD Securities reissued a “buy” rating and set a C$67.00 price objective on shares of TransCanada in a research report on Tuesday, September 27th. CIBC increased their price objective on shares of TransCanada from C$59.00 to C$66.00 in a research report on Wednesday, July 20th. Finally, Bank of America Corp. reissued a “buy” rating and set a C$68.00 price objective on shares of TransCanada in a research report on Thursday, September 1st.

TransCanada (TSE:TRP) opened at 61.10 on Tuesday. TransCanada has a 12-month low of $40.58 and a 12-month high of $63.41. The company’s market cap is $48.88 billion. The company’s 50-day moving average price is $61.33 and its 200-day moving average price is $57.11.

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