Spectra Energy received a buy investment rating from Janney Capital Markets, which initiated coverage of the pipeline-and-midstream company Wednesday with a price target of $43 per share.
In a note to clients, Janney said Spectra Energy “is well positioned to benefit from the energy-infrastructure boom, particularly in natural gas.”
The firm added: “We expect a positive announcement related to its Field Services/DCP Midstream in the near term as well additional new pipeline projects that will bolster its longer-term growth outlook. Lastly, we believe that the company’s enviable position in Western Canada will benefit long-term investors and this value is not currently reflected in the shares.”
SE was inactive in recent pre-market trading after closing Wednesday at $36.27, in a 52-week range of $32.43 to $43.12.