TSX:ALA - Post Discussion
Post by
retiredcf on Oct 24, 2024 8:27am
Scotia Capital
Scotia Capital’s Robert Hope bumped his AltaGas Ltd. target to $39 from $38 with a “sector outperform” rating. The average is $38.44. “Shares of the Canadian utility group moved higher in Q3, benefiting from the lower rate environment. However, we have not seen a meaningful shift in sentiment for the group, especially as they have underperformed their U.S. peers,” said Mr. Hope. “Looking at the quarter, we expect investors will be focused on storm costs for EMA, which we estimate to be $0.5-billion, as well as the utility earnings power of AQN. We like AltaGas and Emera in the group.”
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