BUZZ-Atlantic Power Corp: Price target cuts

Wed Sep 17, 2014 12:20pm EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

** Power producer's U.S., Toronto-listed shares fall for the second day; down 10 pct after closing 33 pct lower on Tuesday

** At least five brokerages cut price targets on Wednesday

** Company said on Tuesday that it decided against selling itself and slashed its dividend 70 pct

** "No doubt a dividend cut was long warranted, but it came sooner than we had expected," analysts at BMO Capital Markets wrote in a client note

** Atlantic Power's U.S.-listed shares were trading at $2.31, while Toronto-listed shares were at C$2.52