Monday, November 1, 2010

Citigroup (NYSE:C) Sees Uncertainty Ahead for TC Pipelines (Nasdaq:TCLP)

While Citigroup (NYSE:C) maintained its "Hold" rating on TC Pipelines (Nasdaq:TCLP), while raising their price target on them, they said in a research note that going to 2011, EPU remain "unclear" for the company.

Also in spite of the uncertainty going forward, Citigroup raised their 2010 and 2011 earnings per share estimates from $1.98 to $2.71 for 2010, and from $2.54 to $2.84 for 2011.

In their latest quarterly results, TC Pipeline's EPU of $0.82 beat Citi's estimate of $0.51.

TC was trading at $48.90, losing $0.34, or 0.69 percent. Citigroup raised their price target on them from $42.50 to $48.50.

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