The Globe and Mail reports in its Friday, Jan. 19, edition that Stifel analyst Cole Pereira, expressing a bullish view of the Canadian energy infrastructure sector in 2024, thinks TC Energy is "oversold at its current multiple and believe it is overdue for a rebound." The Globe's David Leeder writes in the Eye On Equities column that Mr. Pereira rates TC Energy "buy" in new coverage, with a $61 share target. Analysts on average target the shares at $53.78. Mr. Pereira says in a note: "[Its] attractive earnings quality, meaningful exposure to natural gas and potential to create value from its liquids pipelines spin-out. ... We view TC Energy as having the strongest earnings quality of its peers, with 95 per cent of its comparable EBITDA generated from regulated cost-of-service assets or under long-term contracts, of which 77 per cent comes from natural gas transportation, with 69 per cent under cost-of-service frameworks in Canada and the U.S. In July, 2023, the company also announced plans to spin-out its liquids pipelines business into a new entity called South Bow Corporation, expected to be completed in 2H24, which despite some risks we believe has the potential to create shareholder value."