BMO Capital Markets on Friday reiterated its outperform rating on the shares of ATCO (ACO-X.TO) while raising its price target to C$56.00 from C$52.50 following the company's fourth-quarter results.
"The Q4/24 earnings report further reinforced ATCO's rising growth trajectory. Utility rate base growth expectations were raised, Structures is starting 2025 stronger than 2024, and Neltume is delivering reliable earnings. Despite that, the ACO.X shares are still quite discounted relative to utility peers (11x 2026E P/E vs. peers average 17x). As such, we're maintaining our Outperform rating and boosting target to $56 vs. $52.50," analyst Ben Pham wrote.
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)
Price: 46.68, Change: +0.18, Percent Change: +0.39
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