Enbridge and TransCanada’s Target Price Updates

TransCanada (TRP) reported its third-quarter results on November 1. On November 2, CIBC raised its target price for TransCanada from 73 Canadian dollars to 74 Canadian dollars. Among the 18 analysts surveyed by Reuters covering TransCanada, four analysts rated it as a “strong buy,” eight analysts rated it as a “buy,” and six analysts rated it as a “hold.” The median target price for TransCanada is 65 Canadian dollars.