BUZZ-Atlantic Power Corp: No catalysts for stock fall-TD Securities

Mon Nov 10, 2014 11:25am EST
 
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** Canadian power utility's shares up 4.5 pct at C$2.57

** TD Securities upgrades stock to "hold" from "reduce", National Bank Financial raises to "sector perform" from "underperform"

** "..we do not see near-term catalysts for a further decline in the company's share price, given the recent 70 pct dividend reduction, a lack of near-term balance sheet pressure and a focus on deleveraging" TD Securities analysts say

** Atlantic Power slashed its dividend by 70 pct and replaced its CEO in September

** Four of the five analysts covering the stock rate it "hold", one rates it "buy"; their median price target is C$2.64

** Up to Friday's close, stock had fallen 34 pct this year