Scotiabank Thinks AltaGas’ Stock is Going to Recover


A Wall Street analyst has provided a review for the Materials company yesterday, but retained the same rating on the stock. Scotiabank’s analyst Robert Hope reiterates their Buy rating on the shares of AltaGas (ALA), with a C$20 price target.

According to TipRanks.com, Hope is a 2-star analyst with an average return of 0.2% and a 51.9% success rate. Hope covers the Basic Materials sector, focusing on stocks such as Inter Pipeline Ltd, Gibson Energy Inc, and Pembina Pipeline.

Currently, the analyst consensus on AltaGas is a Moderate Buy with an average price target of C$19.33.

AltaGas’ market cap is currently C$4.05B and has a P/E ratio of 0. The company has a Price to Book ratio of 0.78.

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 Thursday at C$15.05, close to its 52-week low of C$13.11.

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts