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Algonquin Power downgraded to Sector Perform from Outperform at National Bank

National Bank downgraded Algonquin Power (AQN) to Sector Perform from Outperform with an unchanged $6.75 price target The company’s investor update provided visibility on three-year earnings reset, with earnings growth being driven largely by operating cost discipline and completion of rate cases, though with the stock up 40% this year and 16% today, a neutral stance is warranted, the analyst tells investors in a research note.

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