---
title: "Research Alert: CFRA Keeps Sell Opinion On Shares Of Tc Energy"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/285595699.md"
description: "CFRA maintains a 'Sell' opinion on TC Energy shares, raising the 12-month target price to USD52. This is based on a 12.0x multiple of projected 2027 EBITDA, yielding a value of USD53 per share, and a DCF model suggesting an intrinsic value of USD51 per share. EPS estimates for 2026 and 2027 have been cut. Despite a strong project pipeline, shares are viewed as overvalued, trading at a 15% premium to historical averages on EBITDA and a 29% premium on cash flows, making upside surprises unlikely."
datetime: "2026-05-07T17:00:00.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/285595699.md)
  - [en](https://longbridge.com/en/news/285595699.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/285595699.md)
---

# Research Alert: CFRA Keeps Sell Opinion On Shares Of Tc Energy

01:00 PM EDT, 05/07/2026 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

Our 12-month target price of USD52, raised USD3, reflects a combination of relative valuation and DCF model analyses. On a relative basis, we apply a 12.0x multiple of enterprise value to projected 2027 EBITDA, in line with TRP's historical forward average. This approach yields a value of USD53 per share. Meanwhile, our DCF model, using free cash flow growth of 10% per year for 10 years, 2.5% thereafter, discounted at a WACC of 5.7%, yields intrinsic value of USD51 per share. We cut our 2026 EPS estimate by CAD0.18 to CAD3.63 and 2027's by CAD0.12 to CAD3.78. We think the project pipeline remains strong, and TRP has been executing well on bringing new projects into service. Nonetheless, we think shares are already trading at rich valuations, at a 15% premium to TRP's historical forward average on EBITDA, and a 29% premium on forward cash flows. At current pricing, we think it may be difficult for shares to surprise to the upside.

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

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