Wells Fargo upgraded TC Energy to Equal Weight from Underweight with an unchanged price target of C$47. The company is “nearing the finish line” on asset sales and could fix its balance sheet with one more sizable deal, the analyst tells investors in a research note. The firm says TC shares now trade at a discount to peers versus a premium at the start of the year. The stock’s valuation now screens more attractive with the company’s balance sheet repair near completion, contends Wells.
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