In this article, we will list the 5 Best Infrastructure Stocks to Buy with Highest Upside Potential. Please visit 8 Best Infrastructure Stocks to Buy with Highest Upside Potential if you would like to see the extended list and the methodology behind it.
5. TC Energy Corporation (NYSE:TRP)
On April 23, 2026, CIBC upgraded TC Energy Corporation (NYSE:TRP) to Outperformer from Neutral and raised its price target to C$89 from C$85 as part of its first-quarter energy infrastructure preview. The firm said Q1 could be an unusual period where market sentiment diverges from reported results due to the Iran conflict and its impact on commodity prices. CIBC added that the situation could drive long-term demand for North American infrastructure as customers look to reduce reliance on the Strait of Hormuz. The upgrade also reflected stronger expected returns from TC Energy’s recent projects.
On April 19, 2026, Goldman Sachs upgraded TC Energy Corporation (NYSE:TRP) to Neutral from Sell and assigned a $62 price target. The firm said TC Energy has successfully transitioned into a pure-play natural gas and power infrastructure company following the spin-off of South Bow. Goldman said the company now offers a more utility-like risk profile that looks increasingly attractive in a volatile macro environment.
Earlier in April, Morgan Stanley raised its price target on TC Energy Corporation (NYSE:TRP) to C$101 from C$93 while maintaining an Overweight rating. The firm said investors have started reassessing earnings estimates for midstream companies as the sector gains more attention amid heightened geopolitical tensions.
TC Energy Corporation (NYSE:TRP) operates natural gas, power, and energy infrastructure assets across Canada, the United States, and Mexico.
4. NextEra Energy, Inc. (NYSE:NEE)
On April 24, 2026, BTIG analyst Alex Kania raised his price target on NextEra Energy, Inc. (NYSE:NEE) to $112 from $103 and maintained a Buy rating. The firm said the company’s first-quarter results topped expectations, but the bigger takeaway was that NextEra remains one of the best-positioned utilities to benefit from rising electricity demand tied to large-load customers. BTIG noted that the data center backlog at NextEra Energy Resources expanded, its renewable development pipeline grew by a record amount in the quarter, and opportunities to extract more value from its existing portfolio are becoming clearer.
Wells Fargo also raised its price target on NextEra Energy, Inc. (NYSE:NEE) to $102 from $99 while maintaining an Overweight rating following quarterly results. The firm said long-term thematic tailwinds continue to drive the story, even if the earnings impact will take longer to fully materialize. Wells added that the quarter included several constructive long-term signals and does not alter its bullish thesis.
On April 23, 2026, NextEra reported adjusted EPS of $1.04, beating consensus estimates of 97 cents, while revenue of $6.70 billion came in below expectations of $7.27 billion. CEO John Ketchum said the company is off to a strong start to the year, with adjusted EPS rising 10% year over year. He said rising electricity demand continues to support strong performance across Florida Power & Light and NextEra Energy Resources, adding that the company’s national footprint, broad energy infrastructure capabilities, and long-term contracted business model position it well for growing power demand. NextEra reaffirmed its fiscal 2026 adjusted EPS guidance of $3.93 to $4.02, compared with consensus estimates of $4.01.
NextEra Energy, Inc. (NYSE:NEE) generates, stores, transmits, distributes, and sells electricity across North America.
3. Duke Energy Corporation (NYSE:DUK)
On April 23, 2026, the U.S. Nuclear Regulatory Commission renewed the operating license for Duke Energy Corporation’s H.B. Robinson Nuclear Plant for an additional 20 years, extending the facility’s operating life through 2050. Duke said the plant generates enough electricity to power roughly 570,000 homes.
On April 21, 2026, Morgan Stanley lowered its price target on Duke Energy Corporation (NYSE:DUK) to $141 from $142 while maintaining an Overweight rating. The firm said it was updating price targets across its regulated and diversified utility coverage after utilities outperformed the broader S&P 500 in March.
On April 20, 2026, Truist analyst Richard Sunderland initiated coverage of Duke Energy Corporation (NYSE:DUK) with a Buy rating and a $142 price target. The firm said vertically integrated utilities are among the biggest beneficiaries of rising electricity demand tied to data centers, calling them “clear winners” in building out the infrastructure needed to support load growth.
Duke Energy Corporation (NYSE:DUK) operates electric and natural gas infrastructure businesses across the United States through its utility and energy infrastructure segments.
2. American Tower Corporation (NYSE:AMT)
On April 28, 2026, American Tower Corporation (NYSE:AMT) reported first-quarter AFFO of $2.84 per share, well above consensus estimates of $2.50, while revenue rose to $2.74 billion from expectations of $2.65 billion. CEO Steve Vondran said the company got off to a strong start in 2026, citing long-term demand drivers such as rising mobile data usage, faster cloud adoption, and growing AI-related workloads that continue to support investment in digital infrastructure.
American Tower also raised its full-year outlook, projecting fiscal 2026 AFFO of $10.90 to $11.07 per share, above consensus estimates of $10.87. The company expects revenue of $10.59 billion to $10.74 billion, compared with analyst expectations of $10.8 billion.
On April 15, 2026, Mizuho upgraded American Tower Corporation (NYSE:AMT) to Outperform from Neutral and raised its price target to $205 from $189. The firm noted that the stock had fallen 19% over the past year while REITs gained roughly 10%, and said several negatives already appear priced in. Mizuho also pointed to improving domestic and international tower fundamentals and said the company’s data center business remains materially undervalued with multiple paths to unlock value.
American Tower Corporation (NYSE:AMT) is one of the world’s largest REITs and owns, operates, and develops communications infrastructure leased to wireless carriers, broadcasters, government agencies, and other tenants.
1. Union Pacific Corporation (NYSE:UNP)
On April 24, 2026, Raymond James raised its price target on Union Pacific Corporation (NYSE:UNP) to $310 from $285 and maintained a Strong Buy rating. The firm said Union Pacific’s renewed focus on service improvements and network efficiency should drive higher profitability and reliability through better asset utilization and tighter operational execution. Raymond James also said the proposed acquisition of Norfolk Southern could be transformative for the broader U.S. rail industry by boosting volumes, pricing power, and earnings.
That same day, Benchmark raised its price target on Union Pacific Corporation (NYSE:UNP) to $300 from $275 and maintained a Buy rating. The firm said first-quarter earnings topped expectations despite a slight revenue miss, as lower-than-expected expenses reflected productivity gains that allowed the railroad to operate efficiently with fewer employees and locomotives. Benchmark added that business wins, operational leverage, and efficiency improvements leave Union Pacific well-positioned for an eventual macro recovery.
On April 23, 2026, Union Pacific reported adjusted EPS of $2.93, ahead of consensus estimates of $2.86, while revenue of $6.22 billion narrowly topped expectations of $6.21 billion. CEO Jim Vena said the company continued to improve safety, service, and operational performance during the quarter, while advancing through the regulatory process to create what he called America’s first transcontinental railroad. Union Pacific also reaffirmed its 2026 outlook, calling for mid-single-digit earnings growth, continued operating ratio improvement, strong cash generation, and $3.3 billion in capital spending, alongside consistent annual dividend increases.
Union Pacific Corporation (NYSE:UNP), through Union Pacific Railroad Company, operates one of the largest freight rail networks in the United States.
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