TC Energy stock gets a Goldman Sachs upgrade as targets diverge

Published on 10/07/2026 at 16:04 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

TC Energy stock drew a Goldman Sachs Buy upgrade with a CAD 71.00 target on October 2, 2026. Q2 EPS reached CAD 0.94 and revenue CAD 3.96 billion.

TRP, CA87807B1076, Illustration mit AI erstellt.

TC Energy Corporation (CA87807B1076) was trading at CAD 85.02 on the Toronto Stock Exchange at 10:03 a.m. ET on October 7, 2026, down 0.64 percent from the prior session. The latest analyst action points in two directions: Goldman Sachs moved the stock from Hold to Buy, while its CAD 71.00 target remains below the market price.

Goldman changes its rating

According to MarketBeat on October 2, 2026, Goldman Sachs upgraded TC Energy from Hold to Buy and set a CAD 71.00 price target. The target is below the October 7 market price, making the rating change more constructive than the published valuation level.

The broader analyst picture is more favorable. MarketBeat lists two Strong Buy, nine Buy and four Hold ratings, producing a Moderate Buy consensus and a CAD 96.29 average target across 15 analysts. That average target is 13.3 percent above the CAD 85.02 Toronto price, while the Goldman target sits below it.

Q2 results support the case

TC Energy's latest reported quarter was Q2 2026. The company delivered CAD 0.94 of earnings per share and CAD 3.96 billion of revenue, figures reported by MarketBeat after the July 30, 2026 results release. The same quarter therefore gives investors a concrete operating reference while the analyst targets reflect different assumptions about valuation.

TC Energy's investor-relations page describes the Q2 2026 update as supporting the upper end of its 2026 financial outlook and notes CAD 0.7 billion of growth projects sanctioned during the quarter. The company also reported that its 2026 project total had reached CAD 3 billion, according to TC Energy.

Pipeline expansion adds context

TC Energy's September 29, 2026 announcement said Coastal GasLink Phase 2 would proceed after LNG Canada and its partners reached a positive final investment decision. The project is scheduled to begin construction in early 2027 and enter service in the early 2030s, according to TC Energy.

That project timeline helps explain the gap between the CAD 71.00 Goldman target and the CAD 96.29 consensus target. The market is assigning value to long-duration infrastructure growth, while the lower target shows that analysts do not share one view on how quickly those investments should translate into earnings.

TRP remains below its yearly high

At CAD 85.02 on October 7, 2026, TRP stood 15.1 percent below its 52-week high of CAD 100.18 and above its 52-week low of CAD 69.41. The Toronto listing had a market capitalization of CAD 88.6 billion and volume of 134,201 shares at the same timestamp.