CIBC analyst Mark Jarvi lowered the firm’s price target on Algonquin Power (AQN) to $6.25 from $6.50 and keeps a Neutral rating on the shares. The company announced a “surprising” 2027 earnings outlook reduction citing a higher tax burden, the analyst tells investors in a research note. The firm believes the news has “eroded” investor confidence and overshadows Algonquin’s progress on rate cases.
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