Benjamin Pham, an analyst from BMO Capital, maintained the Buy rating on ATCO Ltd Cl I NV. The associated price target was raised to C$69.00.
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Benjamin Pham has given his Buy rating due to a combination of factors, including accelerating regulated rate base growth and stronger-than-expected quarterly earnings. The company’s utility capex plan has been expanded and extended, lifting long‑term growth closer to key peers, while its non‑regulated Structures business continues to secure attractive opportunities in housing, defense, and energy.
In addition, recent contract renewals and tuck‑in acquisitions support incremental upside to cash flow and earnings over time. Despite these improving fundamentals and a solid earnings beat, the shares continue to trade at a sizeable price‑to‑earnings discount versus the broader utility group, leading Pham to see meaningful valuation upside and maintain a Buy‑equivalent recommendation with a higher target price.
Based on the recent corporate insider activity of 108 insiders, corporate insider sentiment is neutral on the stock.