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Fly News Breaks for September 20, 2019
TCP
Sep 20, 2019 | 06:26 EDT
BofA/Merrill analyst Dennis Coleman double-upgraded TC PipeLines to Buy with a price target of $47, saying the MLP is prepared to move forward after investors put the stock in the "penalty box" due to "FERC flip flop on the ITC issue in 2018". The analyst believes the company's new "brownfield opportunities" contain lower execution risk and the stock's "significant" valuation discount relative to other interstate pipeline owners offers upside potential.
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