UPDATE: UBS Upgrades TC Pipelines (TCP) to Buy
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Price: $30.21 --0%
Rating Summary:
8 Buy, 7 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 4 | Down: 8 | New: 54
Rating Summary:
8 Buy, 7 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 4 | Down: 8 | New: 54
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(Updated - March 17, 2014 12:36 PM EDT)
UBS upgraded TC Pipelines (NYSE: TCP) from Neutral to Buy and raised its price target from $50 to $51 primarily as the roll forward distribution forecasts by one-year.
Analyst Shneur Z. Gershuni notes, "Last fall TransCanada highlighted that it could use drop-downs of its U.S. gas assets to TCP over time as potential funding source and reiterated this position on its recent earnings call it will include proceeds from asset drops to TCP as part of its funding plan for $38bn of internal growth projects that are approved or near approval. TransCanada's U.S. Natural Gas Pipelines to TCP; representing approximately C$3.5B of net book value and could add nearly $400mm of EBITDA annually to TCP."
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 $46.54 yesterday.
UBS upgraded TC Pipelines (NYSE: TCP) from Neutral to Buy and raised its price target from $50 to $51 primarily as the roll forward distribution forecasts by one-year.
Analyst Shneur Z. Gershuni notes, "Last fall TransCanada highlighted that it could use drop-downs of its U.S. gas assets to TCP over time as potential funding source and reiterated this position on its recent earnings call it will include proceeds from asset drops to TCP as part of its funding plan for $38bn of internal growth projects that are approved or near approval. TransCanada's U.S. Natural Gas Pipelines to TCP; representing approximately C$3.5B of net book value and could add nearly $400mm of EBITDA annually to TCP."
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 $46.54 yesterday.
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