JPMorgan Downgrades TC Pipelines (TCP) to Underweight; Deteriorating Risk/Reward
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Price: $30.21 --0%
Rating Summary:
8 Buy, 7 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
8 Buy, 7 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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On Monday, JPMorgan downgraded TC Pipelines (NYSE: TCP) from Neutral to Underweight with a price target of $43.00 (from $45.00) citing deteriorating risk/reward profile.
"After factoring in lower estimates for Northern Border Pipeline (shipper settlement on NBP) and increasing our discount rate to account for escalating uncertainty surrounding Great Lakes future results, we are downgrading TCP to Underweight," the analyst said.
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 $44.80 yesterday.
"After factoring in lower estimates for Northern Border Pipeline (shipper settlement on NBP) and increasing our discount rate to account for escalating uncertainty surrounding Great Lakes future results, we are downgrading TCP to Underweight," the analyst said.
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 $44.80 yesterday.
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