AltaGas (TSX: ALA) has received a rating update from a Wall Street analyst today. The company received a Buy rating from Desjardins’ analyst Justin Bouchard, with a C$24 price target.
According to TipRanks.com, Bouchard has currently no stars on a ranking scale of 0-5 stars, with an average return of -6.2% and a 42.7% success rate. Bouchard covers the Basic Materials sector, focusing on stocks such as BlackPearl Resources Inc, Gibson Energy Inc, and AltaGas Ltd.
Read also: Direxion Daily Jr Gld Mnrs (JNUG): Gold Stocks Recovering
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for AltaGas with a C$23.38 average price target, which is a 41.3% upside from current levels. In a report issued on October 16, Scotiabank also reiterated a Buy rating on the stock with a C$27 price target.
.
AltaGas’ market cap is currently C$3.01B and has a P/E ratio of 50.5. The company has a Price to Book ratio of 0.80.
AltaGas Ltd. engages in the generation and distribution of electricity. It operates through the following segments: Gas, Power and Utilities. The Gas segment business gathers, processes, transports, stores and markets natural gas and natural gas liquids.
The company’s shares closed on Wednesday at C$16.55, close to its 52-week low of C$16.43.
