Target price increases(from The Globe and Mail)
RBC's Sabahat Kwan raised his target by a loonie to AltaGas Ltd. (
) to $22 with an “outperform” rating, while Industrial Alliance Securities’ Elias Foscolos moved his target to $24 from $23 with a “strong buy” recommendation. The average is $22.50.
“ALA’s reported results were in line for the quarter and its 2021 guidance remains unchanged. Event-driven investors are unlikely to find this year as exciting as the last two on the news front when restructuring took centre stage. In 2021, we expect that ALA will be laser focused on extracting value from its existing Midstream and Utilities asset base. In our view, AltaGas offers investors one of the best growth profiles adjusted for risk,” said Mr. Foscolos.