TransCanada (TRP) Given New C$76.00 Price Target at CIBC
TransCanada (TSE:TRP) (NYSE:TRP) had its price objective lifted by investment analysts at CIBC from C$75.00 to C$76.00 in a research note issued to investors on Thursday. CIBC’s price objective would suggest a potential upside of 27.58% from the company’s previous close.
Several other equities research analysts also recently commented on TRP. TD Securities raised TransCanada from a “buy” rating to an “action list buy” rating and boosted their target price for the stock from C$79.00 to C$81.00 in a report on Friday, November 10th. National Bank Financial boosted their target price on TransCanada from C$68.00 to C$69.00 and gave the stock a “sector perform” rating in a report on Wednesday, November 29th. JPMorgan Chase & Co. boosted their target price on TransCanada from C$74.00 to C$76.00 in a report on Tuesday, December 5th. Finally, Citigroup boosted their target price on TransCanada from C$68.00 to C$71.00 in a report on Friday, December 8th. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of C$73.56.
Shares of TransCanada (TRP) traded down C$1.48 during mid-day trading on Thursday, reaching C$59.57. The company had a trading volume of 2,022,216 shares, compared to its average volume of 1,104,552. TransCanada has a 12 month low of C$59.23 and a 12 month high of C$65.24. The stock has a market capitalization of $52,480.00, a PE ratio of 29.49 and a beta of 0.28.
In other news, Director Patrick M. Keys sold 600 shares of the company’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of C$64.83, for a total transaction of C$38,898.00. Over the last ninety days, insiders have sold 1,444 shares of company stock worth $92,047.
TransCanada Corporation is an energy infrastructure company. The Company is engaged in the development and operation of North American energy infrastructure, including natural gas and liquids pipelines, power generation and natural gas storage facilities. Its segments include Canadian Natural Gas Pipelines, U.S.
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