UPDATE: Citi Upgrades TransCanada On Potential Breakup
In a note released Monday, Citi analyst Faisel Khan upgraded shares of TransCanada (NYSE: TRP) from Neutral to Buy and raised the price target from $51 to $61.
The upgrade comes amid a potential breakup of the company. According to Khan, TransCanada shareholders would benefit through a tax-free spin off of the company's power business.
He added that TransCanada's diverse operations lack synergy and cause a "managerial burden."
Shares of TransCanada are up ~0.6 percent.
Latest Ratings for TRP
| Date | Firm | Action | From | To |
|---|---|---|---|---|
| Mar 2022 | RBC Capital | Maintains | Outperform | |
| Feb 2022 | Wells Fargo | Maintains | Equal-Weight | |
| Feb 2022 | Raymond James | Downgrades | Strong Buy | Outperform |
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Posted-In: Citigroup Faisel KhanAnalyst Color News Upgrades Price Target Analyst Ratings
