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BMO Capital Made the Right Call, Atlantic Power 0.7% Lower (AT)

Published on Thu, 01/31/2013 - 10:07
By Adrienne Chilton

One week ago Atlantic Power (NYSE:AT) was downgraded from Market Perform to Underperform at BMO Capital. The shares closed at $12.85, or 0.7% under the $12.94 price of one week ago.

Atlantic Power share prices have moved between a 52-week high of $15.22 and a 52-week low of $10.72 and are now trading 18% above that low price at $12.66 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.5% while the 200-day MA has remained constant.

Atlantic Power Corporation holds indirect interests in non-utility electric generating facilities that operate primarily in the United States electric power generation industry.

Atlantic Power (NYSE:AT) is currently priced 3.1% above its average consensus analyst price target of $12.27. The stock should hit resistance at its 200-day moving average (MA) of $13.45, as well as support at its 50-day MA of $11.90.

By Adrienne Chilton
achilton@fnno.com