The Financial Post reports in its Tuesday edition that investors are punishing AutoCanada for its exposure to Alberta, but the stock price decline is overdone, according to AltaCorp Capital. The Post's Kristine Owram writes that analyst Chris Murray cut his price target on AutoCanada to $26 from $33 but upgraded the stock to outperform. "The market has been extremely punitive toward the story, essentially treating it as a crude oil derivative and refusing to attribute any value to the company's growth prospects and diversification out of Alberta," Mr. Murray said in a note. Mr. Murray believes there is nearly 50-per-cent upside to the stock, even after cutting his estimates for sales, margins and acquisition growth. AutoCanada gets nearly half of its revenue from its dealerships in Alberta, but it is expanding in Eastern Canada, where auto sales are expected to hit another record high this year. "We believe we may be approaching the juncture where we have reasonable visibility to the downside, which also frames the more bullish upside case," Mr. Murray wrote. The analyst expects AutoCanada to complete one acquisition per quarter this year, with none in 2017 -- a dramatic slowdown for the dealership group.