The Globe and Mail reports in its Wednesday, July 26, edition that National Bank Financial analyst Patrick Kenny has reaffirmed his "sector perform" recommendation for TC Energy. The Globe's David Leeder writes in the Eye On Equities column that Mr. Kenny trimmed his share target by a loonie to $53. Analysts on average target the shares at $58.91. While the sale of a 40-per-cent interest in its Columbia Gas and Columbia Gulf assets to New York-based Global Infrastructure Partners allowed TC Energy to reach its divestiture target, Mr. Kenny thinks the price tag of $5.2-billion "falls short" and led him to reduce his expectation for future transactions. Mr. Kenny says in a note, "Although the deal achieves the company's targeted $5-billion-plus asset sale program to be completed by the end of 2023, we note the 10.5 times price tag comes in slightly below our previously modelled 11 times assumption (10 to 12 times range), while the newly created JV reintroduces corporate complexity, which in turn reduces the quality of our consolidated AFFO/sh [adjusted funds from operations per share] forecast." Mr. Kenny expects TC Energy will likely now "take a pause" on selling further assets until next year.