bossu wrote: Long time we have seen so much interest in ALA about the same I have had for long time.
This the kind of comments we need !
Inside the Market’s roundup of some of today’s key analyst actions
Shares of AltaGas Ltd. (
) rose 3.75 per cent on Thursday after the Calgary-based energy infrastructure company released an optimistic update to its 2021 business plan and raised its monthly dividend by 4 per cent (to $1 per share).
However, Industrial Alliance Securities’ analyst Elias Foscolos lowered his rating for its stock to “buy” from a “strong buy” recommendation on Friday, pointing to a 13 per cent since an Oct. 30 upgrade.
“ALA’s 2021 business plan update highlights its increasingly utility-like characteristics,” he said. “EBITDA for 2021 is forecasted at $1.45-billion plus or minus $0.05-billion. This was slightly below our prior estimate which has been revised downward, but our longer-term outlook is slightly strengthened as we model in a higher CAGR [compound annual growth rate] in ALA’s regulated asset base. The 4-per-cent dividend increase confirms the strengthened outlook.”
With that view, Mr. Foscolos raised his target for AltaGas shares to $23 from $22. The average target is $21.67.
Elsewhere, other analysts raising their targets included:
* Scotia Capital’s Robert Hope to $22 from $20 with a “sector outperform” rating.
* CIBC World Markets’ Robert Catellier to $22 from $21 with an “outperformer” rating.
* Credit Suisse’s Andrew Kuske to $24 from $20 with an “outperform” rating.
* TD Securities’ Linda Ezergailis to $22 from $20 with a “buy” rating.
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* BMO Nesbitt Burns’ Ben Pham to $24 from $23 with an “outperform” rating.
ALTAGAS LTD
19.35+0.62 (3.34%)