Credit Suisse analyst Andrew M. Kuske reiterated a Neutral rating and $63 price target on TC Energy, noting that since the Keystone Pipeline released crude oil in Kansas, the shares fell 5.3% compared to the S&P/TSX composite of down 2%. Kuske said that, despite existing and likely noise ahead, the magnitude of the underperformance appears to be overdone. Kuske added that considerable Keystone fixation exists given the cascading impact on broader Western Canadian hydrocarbon flows and the system’s partial disposition potential in 2023.
Published first on TheFly
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