TC Energy upgraded to Overweight from Underweight at Morgan Stanley

Morgan Stanley double upgraded TC Energy (TRP) to Overweight from Underweight with a price target of C$78, up from C$62. The firm cites strong natural gas pipeline growth and the company’s “underappreciated” positioning to capture expansion projects supporting data center development for the upgrade. TC Energy’s deleveraging process is largely done at this point, the analyst tells investors in a research note.