Scotiabank lowered the firm’s price target on Algonquin Power (AQN) to $5.25 from $5.75 and keeps a Sector Perform rating on the shares. The company’s Q3 utility EBITDA was slightly below the firm’s consensus, but Scotiabank believes investors should focus on 2025 and 2026 as the company transitions to a pure-play utility, the analyst tells investors.
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