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National Bank Maintains Their Hold Rating on ATCO Ltd. Cl I NV (ACO.X)


ATCO Ltd. Cl I NV (TSX: ACO.X), the Utilities sector company, was revisited by a Wall Street analyst on September 13. The company received a Hold on September 13 from National Bank’s analyst Patrick Kenny.

Currently, the analyst consensus on ATCO Ltd. Cl I NV is a Moderate Buy with an average price target of C$43.25, representing a 14.9% upside. In a report issued on September 11, BMO Capital also maintained a Hold rating on the stock with a C$41.50 price target.

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Based on ATCO Ltd. Cl I NV’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of C$1.1 billion and GAAP net loss of C$12 million. In comparison, last year the company earned revenue of C$1.07 billion and had a net profit of C$44 million.

ATCO Ltd. is engaged in structures and logistics, utilities, energy and technologies business. It operates through the following segments: Structures & Logistics, Electricity, Pipelines & Liquids, and Corporate & Other. The Structures & Logistics segment includes ATCO Structures & Logistics.

The company’s shares closed on Friday at C$37.63, close to its 52-week low of C$37.14.