$TRP

Canadian analysts updated ratings and price targets for various companies. Enbridge (ENB) and TC Energy (TRP) received upgrades, while Evertz Technologies (ET) saw multiple target reductions. Notable changes include BCE (BCE) upgraded to BUY, Canfor (CFP) raised to STRONG BUY, and West Fraser (WFG) target increased. Several new coverages were initiated, including for Calian Group (CGY) and Skeena Resources (SKE).

BMO analyst Ben Pham updated top picks in the energy infrastructure sector, with TransCanada (TRP) as the new top pick, and adjusted price targets for Altagas (ALA) and Atlantic Coast Operations (ACO.X). RBC analyst Sam Crittenden raised copper price forecasts, citing strong fundamentals, and highlighted potential upside for First Quantum, Capstone (CS), and Hudbay (HBM).

National Bank Financial upgraded Enbridge (ENB) to 'outperform' citing its North American oil production growth and recent acquisitions. Analyst Patrick Kenny raised the target price to $82. TD Cowen upgraded TC Energy (TRP) to 'buy' seeing a 16% pullback as an attractive entry point. National Bank initiated coverage of MDA Space (MDA) with an 'outperform' rating, highlighting its space investment growth potential.

Alberta Energy is exploring solutions to natural gas pipeline constraints, including potential legislation for a new Crown corporation. A leaked report highlights issues with TC Energy's NGTL system, which is fully subscribed until 2029, and suggests various interventions to address capacity shortages and competition. Premier Danielle Smith has downplayed the idea of a Crown corporation, while NDP Leader Naheed Nenshi criticized the proposal.

TC Energy Corp. (TRP) is ready to invest in its Alberta natural gas network to meet growing demand, according to the company. This follows an Alberta cabinet report suggesting TC's expansion plans may not align with projected demand growth, citing market failure concerns. TC has invested $15 billion in the past decade and plans $1 billion more in projects, calling for cooperation to support Alberta's growth.

Canada aims to attract C$1 trillion in global investment, with a focus on mining. Prime Minister Mark Carney is hosting the first Canada Investment Summit, inviting major investors to fund 167 projects, including Troilus Mining's C$1.43 billion gold-copper project. BMO forecasts C$350 billion in mining capital expenditures over five years. Canada seeks to diversify its economy and attract investment in processing and downstream industries.

RBC Capital maintained an 'Outperform' rating and $106 price target for TC Energy (TRP). GuruFocus values TRP at $56.40, suggesting an 8.7% overvaluation. TRP has a GF Score of 75, indicating strong profitability and momentum but weaker financial strength. Insider activity shows no recent buying or selling.

TC Energy selected Worley, EllisDon, and AECOM to advance the Ontario Pumped Storage Project's engineering phase. The project aims to be one of Ontario's largest energy storage facilities, addressing growing electricity demand. TC Energy's Hire and Buy Local Program will prioritize local workers and suppliers.

TC Energy's President Francois Poirier announced significant growth plans in West Virginia, including an $800 million project to transport 800 million cubic feet of natural gas. The company has invested $7.5 billion in the state over the past decade, developing pipelines and infrastructure. Poirier emphasized the need for regulatory reform to expedite pipeline project permits and highlighted TC Energy's commitment to the region, with plans to increase its workforce.

Major U.S. oil companies and asset managers like ExxonMobil, ConocoPhillips, KKR, and Apollo are investing in Canadian energy infrastructure, despite President Trump's rhetoric against Canada. They are avoiding Venezuela, with Exxon calling it 'uninvestable' and Conoco focusing on recouping past investments. Enbridge received a $2.7-billion investment for a B.C. natural gas pipeline expansion, while Imperial Oil plans to spend $2.2-billion on Canadian operations. The U.S. imported $160-billion w