The Globe and Mail reports in its Tuesday, Jan. 13, edition that TD Cowen analyst Aaron MacNeil has reconfirmed his "buy" recommendation for TC Energy. The Globe's David Leeder writes in the Eye On Equities column that Mr. MacNeil gave his share target a $4 boost to $84. Analysts on average target the shares at $83.84. Mr. MacNeil says in a note: "Capital spending out to 2030 is almost entirely secured at its current $6-billion/annum run rate and we are forecasting an increase to $7-billion in 2028. Longer term, Bruce C has the potential to extend growth visibility well into the 2040s. TC has and continues to trade at a premium valuation, albeit less so following the Venezuela news despite having no exposure to this theme. As such, we view recent weakness as a buying opportunity." The Globe reported on April 22 and Oct. 17 that Mr. MacNeil was maintaining his "buy" ranking for TC Energy. The shares could then be had for $67.78 and $72.10. The Globe reported on Dec. 18 that National Bank Financial analyst Patrick Kenny continued to rate TC Energy "outperform." The shares could then be had for $74.52.
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