Wolfe Research upgraded TC Energy to Peer Perform from Underperform without a price target. The analyst is making a “tactical call” based on the view that the stock’s near-term catalyst setup leans positive. Completion of Coastal GasLink, 2023 results, and the November investor day “should be constructive and support the stock,” even with long-term execution risks, the analyst tells investors in a research note. The firm says Coastal GasLink is progressing well and could even reach mechanical completion before the year-end target.
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