TransCan Receives a Buy from BMO Capital

By Jason Carr

In a new note to investors yesterday, an analyst has provided a rating update for the Materials sector company, TransCan (TSX: TRP). The company received a Buy rating from BMO Capital’s analyst Benjamin Pham, with a C$72 price target.

According to TipRanks.com, Pham is a 5-star analyst with an average return of 10.2% and a 88.6% success rate. Pham covers the Utilities sector, focusing on stocks such as Brookfield Renewable Energy, Atlantic Power Corp, and Pattern Energy.

Currently, the analyst consensus on TransCan is Strong Buy and the average price target is C$73.33, representing a 17.1% upside.

In a report issued on June 9, RBC Capital also reiterated a Buy rating on the stock with a C$76 price target.

TransCan’s market cap is currently C$54.27B and has a P/E ratio of 108.2.

TransCanada Corp. provides gas storage and related services. It operates as an energy infrastructure company in North America. The company operates through the following segments: Natural Gas Pipelines, Liquid Pipelines and Energy. TransCanada was founded on May 15, 2003 and is headquartered in Calgary, Canada.

The company’s shares closed last Wednesday at $62.60.