Shares of energy company TransCanada (TRP) are up 4% year-to-date.
TransCanada's $5.3 billion Keystone XL Pipeline to link Western Canada and Bakken Oil production to the gulf coast is yet to be approved by the President.
"A Romney win should result in a rally in the share price on the assumption that Keystone XL will receive its Presidential Permit in due course. We estimate that the stock could rally in the 5% range," analyst Robert Kwan wrote in a report.Conversely, the if Obama were to win, the uncertainty regarding the final decision will weigh on the stock. Only 5 out of 15 analyst currently rate the stock a buy or outperform, with 9 analysts maintaining a hold rating on the stock.
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