tiprankstipranks
Trending News
More News >

Algonquin Power price target raised to $6.25 from $5.75 at CIBC

CIBC raised the firm’s price target on Algonquin Power (AQN) to $6.25 from $5.75 and keeps a Neutral rating on the shares. The company’s update and new guidance “showed a more promising earnings outlook in 2027 and likely beyond,” so the firm wasn’t surprised to see a positive share price reaction, the analyst tells investors. However, there still remains execution risk around key rate cases essential to the higher EPS and the current valuation is on par with North American utility peers, “suggesting little margin of safety,” the analyst added.

Don’t Miss TipRanks’ Half-Year Sale

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

Disclaimer & DisclosureReport an Issue

1