AltaGas initiated with a Buy at TD Securities

TD Securities analyst John Mould initiated coverage of AltaGas (ATGFF) with a Buy rating and C$45 price target The firm named AltaGas its top pick in Canadian utilities. The company offers investors the potential for attractive valuation expansion and the highest earnings growth among the Canadian utility group, the analyst tells investors in a research note. TD says this is partially due to a higher-growth midstream business that AltaGas has de-risked through contracting and tolling.