Goldman Sachs upgrades TC Energy stock to Buy

Published on 10/06/2026 at 17:18 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Goldman Sachs sets a USD 71.00 target for TC Energy stock. Phase 2 construction starts in early 2027 along the 670-kilometer route.

TRP, CA87807B1076, Illustration mit AI erstellt.

Goldman Sachs upgraded TC Energy stock from Neutral to Buy with a USD 71.00 target on September 30, 2026, according to MarketBeat. The target is 18.51 percent above TC Energy's USD 59.91 NYSE quote on October 6, 2026, a comparison that gives the upgrade a clear valuation reference.

Coastal GasLink enters its next phase

TC Energy announced on September 29, 2026, that Coastal GasLink Phase 2 will proceed after LNG Canada and its joint venture participants reached a positive Final Investment Decision. The project is the most recent company-specific development supporting the stock story.

According to TC Energy, the pipeline currently transports 2.10 Bcf/d of natural gas, while Phase 2 will add compressor stations and upgrade facilities along the existing 670-kilometer route. Construction is expected to start in early 2027, with service planned for the early 2030s.

Capacity growth with limited exposure

The commercial structure matters as much as the capacity increase. LNG Canada will lead construction as Phase 2 execution manager, while Coastal GasLink remains the owner, operator and permit holder.

TC Energy said the structure limits Coastal GasLink's capital commitments and exposure to construction cost and schedule risks. The release also cited more than USD 1.80 billion in contracts awarded to Indigenous and local businesses, USD 13.00 million invested in local communities and 25,700 full-time-equivalent jobs created during the original pipeline construction.

TRP market value and trading context

TC Energy had a USD 62.4 billion market capitalization on October 6, 2026. Its primary-market 52-week range was USD 49.27 to USD 71.47, placing the USD 59.91 quote 16.18 percent below the high and 21.61 percent above the low.

On the NYSE, TC Energy was trading at USD 59.91 on October 6, 2026, at 11:17 a.m. ET, up 0.72 percent from the prior close of USD 59.48. The move is below the 1.00 percent threshold for a directional headline, while the Goldman Sachs target and the Coastal GasLink expansion provide the stronger investor context.