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.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts