National Bank on ALA Guidance
National Bank of Canada Comments On AltaGas' 2024 Guidance
National Bank of Canada on Tuesday noted AltaGas Ltd. (ALA.TO)'s 2024 guidance including 2024 adjusted EBITDA target of $1.675 billion to $1.775 billion, within the bank's forecast of $1.72 billion.
The outlook also includes a slightly higher-than-expected $1.2 billion capital budget as the company begins a multiyear midstream growth cycle.
The bank said AltaGas also extended its 5% to 7% annual dividend growth guidance through 2028 while confirming a 6% increase for 2024, matching its forecast.
National Bank maintained AltaGas' $31.00 price target with an outperform rating.