Jefferies initiated coverage of TC Energy with a Hold rating and C$57 price target. The firm is positive on the company’s scale and positioning of its energy infrastructure assets across North America, which alongside its low-risk business model leave TC Energy well-positioned to benefit from long-term growth trends, but Jefferies prefers to remain on the sidelines pending greater clarity towards progress on the strategic objectives the management is currently advancing, the analyst tells investors in a research note.
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