The Globe and Mail reports in its Friday, Sept. 8, edition that BMO Nesbitt Burns analyst Ben Pham has reaffirmed his "outperform" recommendation and $36 share target for AltaGas. The Globe's David Leeder writes in the Eye On Equities column that analysts on average target the shares at $31.60. Mr. Pham says in a note: "AltaGas shares are the best performing in our coverage this year (14.1-per-cent return year-to-date vs. utilities index down 4.2 per cent), due to what we believe is mean reversion (down 15 per cent last year), improved LPG export margins as evidenced by 1H/23 results, positive revisions to future EPS growth (MVP construction restart and the recent Pipestone acquisition), and continued debt reduction. Yet, the shares still offer attractive value (11.5 times forward P/E vs. 15.5 times for utilities and 15 times for pipeline/midstream). AltaGas was one of the few names where our target price was unchanged ($36) following the roll, with anticipated growth robust enough to fully offset valuation friction (we now use 15.5 times P/E to value the shares vs. 17 times previously)." The Globe reported on March 4 that Mr. Pham continued to rank AltaGas "outperform." It was then worth $24.04.