The Globe and Mail reports in its Wednesday, Sept. 23, edition that Scotiabank analyst Robert Hope is keeping his "sector outperform" call on TC Energy intact. The Globe's Darcy Keith writes that Mr. Hope continues to target the shares at $105. Analysts on average target the shares at $99.57. Mr. Hope calls the sale of the Guadalajara-Manzanillo pipeline to ESENTIA Energy as "strategically sensible." He says the asset represents less than 1 per cent of TC Energy's earnings before interest, taxes, depreciation and amortization, and is not integrated with the firm's broader Mexican pipeline footprint. He says in a note: "The transaction multiple of roughly 7.7 times trailing EBITDA may appear modest at first glance, but we estimate the valuation rises to 10 times 2029 EBITDA, reflecting the expected annual EBITDA decline and making the sale price appear reasonable for a mature asset with less than a decade of contracted life remaining. We see the transaction as a value-realizing portfolio optimization that allows TC Energy to recycle capital from a non-core asset into its substantial North American growth backlog. ... We expect proceeds will primarily be used to repay debt and support the capital program."