CIBC cuts target for AltaGas stock to CAD 58.00

Published on 10/25/2026 at 00:27 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

The October 22, 2026 note cut AltaGas's rating to Neutral from Outperformer. AltaGas stock last closed at CAD 55.34.

Analyst view and earnings date

CIBC analyst Robert Catellier cut the target from CAD 60.00 to CAD 58.00 on October 22, 2026.
AltaGas generated normalized EBITDA of CAD 391 million in the second quarter of 2026.
AltaGas is scheduled to report its third-quarter 2026 results on October 29, 2026.

ALA, CA0213611001, Illustration mit AI erstellt.

AltaGas (CA0213611001) faces a lower analyst target after CIBC cut its view from CAD 60.00 to CAD 58.00 on October 22, 2026, according to Markets Insider. The bank also downgraded the stock to Neutral from Outperformer in a third-quarter earnings preview.

Why did CIBC cut the target?

CIBC analyst Robert Catellier cited higher long-term U.S. Treasury yields, inflationary risks and lower prospective total returns. The new CAD 58.00 target lies 4.81 percent above AltaGas's last TSX close of CAD 55.34 on October 23, 2026, using the same currency and dated quotation.

AltaGas enters results season

AltaGas's second-quarter 2026 results provide the operating counterweight to the cautious target. The company generated normalized EBITDA of CAD 391 million, up 14 percent from the second quarter of 2025, and normalized earnings per share of CAD 0.31, up 15 percent, according to Yahoo Finance.

Management raised 2026 normalized EBITDA guidance by 4 percent to CAD 2.0 billion-CAD 2.1 billion and normalized earnings per share guidance by 6 percent to CAD 2.35-CAD 2.60. LPG exports reached a record 144,000 barrels per day in the second quarter, 13 percent above the year-earlier period.

Three AltaGas events in sequence

On July 30, AltaGas reported second-quarter normalized EBITDA of CAD 391 million and lifted its 2026 guidance, as documented by Yahoo Finance. On July 31, ATB Cormark raised its target from CAD 60.00 to CAD 63.00 while retaining an Outperform rating, according to MarketBeat. On October 22, CIBC cut its target to CAD 58.00 from CAD 60.00 and moved to Neutral.

What date comes next?

AltaGas is scheduled to report third-quarter 2026 results on October 29, 2026, according to Yahoo Finance. The result will test whether the second-quarter operating momentum can support the higher full-year guidance while the stock trades below the revised CIBC target.

TSX valuation before results

AltaGas last closed at CAD 55.34 on the Toronto Stock Exchange on October 23, 2026 at 4:00 p.m. EDT. The same quotation showed a 52-week range of CAD 39.45 to CAD 57.52 and market capitalization of CAD 17.3 billion.

The further course of trading is shown by the continuously updated real-time quote of AltaGas stock.