AltaGas downgraded to Neutral from Overweight at JPMorgan

JPMorgan downgraded AltaGas (ATGFF) to Neutral from Overweight with a price target of C$37, up from C$36. Following the recent stock price appreciation and weighing a major project develop cycle against a “stretched” balance sheet, as well as regulatory risk, the firm sees a “more balanced” risk-reward, the analyst tells investors in a research note.