BUZZ-Street View: Analysts expect TC Energy to benefit from increased natgas and power demand

Reuters11-21 01:44

** Pipeline operator TC Energy , at its analyst day on Nov. 19, forecast a core profit increase of between C$10.7 bln and C$10.9 bln in 2025, from C$9.9 bln to C$10.1 bln in 2024, driven by rising natural gas demand and electrification

INVESTOR DAY HIGHLIGHTS STRONG GROWTH TARGETS

** BMO raises PT to C$70 from C$66, says LNG export and power generation are the key drivers of North American natural gas demand growth, where TRP has flagged potential opportunity

** Scotiabank raises PT to C$75 from C$74, says TRP's growth opportunities are becoming increasingly visible and numerous due to increasing natural gas demand (LNG exports, coal-to-gas conversions, power demand)

** Expects the company will curb its annual capital spending in the near term for balance sheet fortification, then accelerate investments to $7 bln in the latter part of the decade to leverage emerging opportunities

** CIBC Equity Research raises PT to C$68 from C$67, sees more future opportunities in the U.S., where the risk-adjusted returns happen to be better than other jurisdictions

(Reporting by Pooja Menon in Bengaluru)

((Pooja.Menon@thomsonreuters.com))

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