TC Energy price target raised to C$73 from C$70 at BMO Capital

BMO Capital raised the firm’s price target on TC Energy (TRP) to C$73 from C$70 and keeps a Market Perform rating on the shares. Rising North American gas demand combined with TC’s “nimble” management and premium energy infrastructure assets have generated an attractive multi-year growth profile of 5%-7% that could extend until at least the end of the decade, the analyst tells investors in a research note. The firm believes there is upside to near- and long-term growth expectations on delivery to the target $6B-$7B net capex investment program.