TD Securities analyst Sean Steuart lowered the firm’s price target on Algonquin Power (AQN) to $6 from $6.50 and keeps a Hold rating on the shares. The company following reduced its 2027 earnings guidance by 9% at the midpoint due to newly anticipated tax headwinds, the analyst tells investors in a research note. The firm expects Algonquin to pursue optimization strategies to mitigate higher taxes.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AQN:
- Algonquin Power upgraded to Outperform from Market Perform at Raymond James
- Algonquin Power: Solid 2025 Execution Offsets Weaker Long-Term Outlook, Justifying a Hold Rating
- Midday Fly By: Rising oil prices, falling employment sink stocks
- Morning Movers: Nutex Health sinks after fourth quarter results
- Algonquin Power & Utilities Returns to Profit and Reaffirms Regulated Growth Plan