Scotia Bank CommentsOUR TAKE: We hosted AltaGas’ Chairman and interim Co-CEO for marketing meetings. As expected the day was focused on AltaGas’ financing strategy and funding outlook which remains uncertain. On the other hand, it’s base business continues to perform well. We have updated our model to reflect a stronger gas contribution moving forward partially offset by an acceleration of financing into 2019. Our target decreases to $28 from $30 to reflect a higher risk premium. We remain Sector Outperform, though in the near term the shares could take a wait and see approach regarding the funding outlook. We expect the dividend to be maintained.