--- title: "研究警报：CFRA 继续维持对 TC Energy 股票的卖出评级" type: "News" locale: "zh-CN" url: "https://longbridge.com/zh-CN/news/285595699.md" description: "CFRA 对 TC Energy 的股票维持 “卖出” 评级，将 12 个月目标价上调至 52 美元。这是基于对 2027 年预计 EBITDA 的 12.0 倍倍数计算得出的每股价值为 53 美元，同时折现现金流模型显示每股内在价值为 51 美元。2026 年和 2027 年的每股收益预期已被下调。尽管项目管道强劲，但股票被视为高估，目前的交易价格比历史平均 EBITDA 高出 15%，现金流高出 29%，因此上行惊喜的可能性不大" 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) --- # 研究警报：CFRA 继续维持对 TC Energy 股票的卖出评级 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. ### 相关股票 - [TRP.US](https://longbridge.com/zh-CN/quote/TRP.US.md) - [UNG.US](https://longbridge.com/zh-CN/quote/UNG.US.md) - [TPYP.US](https://longbridge.com/zh-CN/quote/TPYP.US.md) - [XOP.US](https://longbridge.com/zh-CN/quote/XOP.US.md) - [MLPX.US](https://longbridge.com/zh-CN/quote/MLPX.US.md) - [EMLP.US](https://longbridge.com/zh-CN/quote/EMLP.US.md) ## 相关资讯与研究 - [盘前趋势｜欧尼克（OKE）5/14 油气管道双雄共振，趋势升温？](https://longbridge.com/zh-CN/news/286465249.md) - [AI 电力需求引爆公用事业并购潮！新纪元能源收购道明尼能源释放重磅信号：不扩张就出局](https://longbridge.com/zh-CN/news/286833557.md) - [市场承压，现金流策略逆市走强，中证现金流 ETF 大成盘中涨 1%，跟踪指数优势凸显配置价值受关注](https://longbridge.com/zh-CN/news/286849411.md) - [现金流 ETF800 鹏华交投活跃，多重利好共振筑牢价值底盘](https://longbridge.com/zh-CN/news/286739949.md) - [商络电子年度股东会释疑：业绩大增背后的现金流之惑与未来布局](https://longbridge.com/zh-CN/news/286789387.md)