TC Energy infrastructure stock

What happened: On April 23, 2026, CIBC upgraded TC Energy Corporation (NYSE:TRP) to 'Outperformer' from 'Neutral', raising its price target to C$89 from C$85. Previously, on April 1, Morgan Stanley raised its price target for TRP. Both upgrades come amidst lists of top infrastructure stocks to buy, with TRP featured in two such lists.

Market impact: The upgrades reflect growing optimism in TC Energy's prospects, driven by its stable cash flows and growth opportunities in North American energy infrastructure. The upgrades may influence investors' decisions, potentially driving up TRP's stock price and benefiting other infrastructure stocks.

What to watch next: TC Energy's Q1 2026 earnings, scheduled for May 10, will provide insights into its operational performance and guidance. Additionally, regulatory decisions on TC Energy's expansion projects, such as the Keystone XL pipeline, will significantly impact its future growth trajectory.