JPMorgan cuts target for TC Energy stock from CAD 106 to CAD 102

Published on 10/23/2026 at 11:04 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

JPMorgan cut its target from CAD 106 to CAD 102 on October 22, 2026. TC Energy stock costs EUR 55.59 on October 23, 2026.

Company milestones and valuation

JPMorgan lowered its TC Energy target to CAD 102 on October 22, 2026.
Comparable EBITDA grew 12.00 percent year over year in the second quarter of 2026.
TC Energy stock trades at EUR 55.59 at 11:01 a.m. CEST at Lang & Schwarz on October 23, 2026.
TC Energy will discuss third-quarter results on November 5, 2026.

TRP, CA87807B1076, Illustration mit AI erstellt.

TC Energy stock is quoted at EUR 55.59 at Lang & Schwarz on October 23, 2026 at 11:01 a.m. CEST. JPMorgan lowered its price target from CAD 106 to CAD 102 while maintaining an Overweight rating on October 22, 2026, according to Markets Insider.

Target cuts reset the valuation debate

The latest analyst action puts the focus on how TC Energy's infrastructure expansion translates into cash generation. JPMorgan's CAD 102 target is CAD 4 below its previous level, a 3.77 percent reduction based on the two published targets. The bank retained its Overweight rating, so the target cut did not amount to a change in its stated rating.

What does the growth mean for earnings?

TC Energy's second-quarter operating picture provided a stronger counterpoint. In the second quarter of 2026, comparable earnings before interest, taxes, depreciation and amortization grew 12.00 percent year over year, while gas flows across the network increased 3.00 percent, as reported by The Globe and Mail. The same report said TC Energy expected to reach the top of its 2026 comparable EBITDA range of USD 11.6 billion to USD 11.8 billion.

Three milestones shape the next update

TC Energy agreed on September 29, 2026, to an economic participation arrangement with five First Nations connected to Coastal GasLink, according to Marketscreener. On October 16, 2026, the company announced a conference call for its third-quarter financial results and outlook update. The company had also reported second-quarter revenue of USD 3.96 billion and net income of USD 1.15 billion for the period ended June 30, 2026.

November 5 is the next key date

TC Energy will host its third-quarter 2026 results conference call on November 5, 2026, according to the company's news release carried on TC Energy. Management plans to discuss the results, the financial outlook and other developments. That date gives investors a defined point for testing whether the second-quarter growth rate and the 2026 EBITDA range remain intact.

Stock quote stays tied to the next report

The share price offers a market reference while the latest target revisions show a more cautious valuation frame. The next company update will provide the clearest new evidence on cash generation and project execution. TC Energy was trading at EUR 55.59 at Lang & Schwarz on October 23, 2026 at 11:01 a.m. CEST. The further course of trading is shown by the continuously updated real-time quote of TC Energy stock.