Capital Power: Diversified Growth, Contracting Tailwinds, and Apollo-Supported M&A Underpin Buy Rating and $80 Target

In a report released yesterday, John Mould from TD Cowen reiterated a Buy rating on Capital Power, with a price target of C$80.00.

John Mould has given his Buy rating due to a combination of factors tied to Capital Power’s growth and contracting outlook. He views the company’s diversified exposure to rising electricity demand in Alberta, PJM, and through upcoming re‑contracting processes as a key strength, and he expects the Alberta data centre and “bring your own generation” framework to unlock further long‑term opportunities.

He also highlights that recent results were in line with expectations, 2026 guidance was maintained, and fundamentals for the newly acquired PJM assets remain favourable. In addition, he sees further upside from potential gas‑fired acquisitions, supported but not constrained by the Apollo partnership, which together underpin his confidence in both earnings visibility and the sustainability of his $80 price target.

In another report released today, TipRanks – Google also upgraded the stock to a Buy with a C$70.00 price target.