UPDATE: Ladenburg Thalmann Starts TC Pipelines (TCP) at Neutral

(Updated - January 20, 2017 7:27 AM EST)

Ladenburg Thalmann initiated coverage on TC Pipelines (NYSE: TCP) with a Neutral rating and a price target of $61.00.

Analyst Michael Schmitz comments "We are initiating coverage on TC PipeLines, LP (TCP) with a Neutral rating and $61 price target (based on a 10-year, three-stage DDM). While we believe that TCP has a stable cash flow base and is well-positioned to continue to deliver annual distribution growth over the next several years underscored by potential additional drop downs from TransCanada, we believe that this is largely reflected in its current unit price."

For an analyst ratings summary and ratings history on TC Pipelines click here. For more ratings news on TC Pipelines click here.

Shares of TC Pipelines closed at $58.39 yesterday.

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