TransCanada (TRP) Given New C$76.00 Price Target at CIBC

TransCanada (TSE:TRP) (NYSE:TRP) had its target price lifted by equities researchers at CIBC from C$75.00 to C$76.00 in a research report issued on Thursday. CIBC’s price target suggests a potential upside of 27.32% from the stock’s current price.

Other equities research analysts have also issued research reports about the stock. Citigroup boosted their price target on shares of TransCanada from C$68.00 to C$71.00 in a report on Friday, December 8th. JPMorgan Chase & Co. boosted their price target on shares of TransCanada from C$74.00 to C$76.00 in a report on Tuesday, December 5th. TD Securities raised shares of TransCanada from a “buy” rating to an “action list buy” rating and boosted their price target for the company from C$79.00 to C$81.00 in a report on Friday, November 10th. Finally, National Bank Financial boosted their price target on shares of TransCanada from C$68.00 to C$69.00 and gave the company a “sector perform” rating in a report on Wednesday, November 29th. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of C$73.56.

Shares of TransCanada (TSE TRP) opened at C$59.69 on Thursday. The stock has a market cap of $52,380.00, a price-to-earnings ratio of 29.55 and a beta of 0.28. TransCanada has a fifty-two week low of C$59.12 and a fifty-two week high of C$65.24.

In other news, Director Patrick M. Keys sold 600 shares of the company’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of C$64.83, for a total value of C$38,898.00. In the last ninety days, insiders sold 1,444 shares of company stock worth $92,047.

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About TransCanada

TransCanada Corporation is an energy infrastructure company. The Company is engaged in the development and operation of North American energy infrastructure, including natural gas and liquids pipelines, power generation and natural gas storage facilities. Its segments include Canadian Natural Gas Pipelines, U.S.

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