UPDATE: JPMorgan Double Upgrades TC Pipelines (TCP) to Overweight

April 15, 2020 4:49 AM EDT
Get Alerts TCP Hot Sheet
Price: $30.21 --0%

Rating Summary:
    9 Buy, 7 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 13 | Down: 27 | New: 42
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(Updated - April 15, 2020 4:52 AM EDT)

(updating comment)

JPMorgan analyst Jeremy Tonet upgraded TC Pipelines (NYSE: TCP) from Underweight to Overweight with a price target of $46.00 (from $41.00).

The analyst comments "Given our near-term view for a choppy energy market, we believe TCP stands well positioned to weather a lower for longer environment, with materially less fundamental downside risk. After reevaluating TCP’s risk/reward proposition within our coverage universe, despite our dislike for IDRs, we see TCP’s cash flow stability and ability to leverage in-corridor growth opportunities as overwhelmingly compelling, driving us from UW to OW."

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 $31.45 yesterday.

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