CIBC raised the firm’s price target on Algonquin Power (AQN) to $6.50 from $6.25 and keeps a Neutral rating on the shares. The firm said in a Q1 Power & Utilities preview that it believes most Regulated Utilities should meet or exceed consensus in Q1, but it expects more mixed results for Power. CIBC sees “more valuation upside” in Power but believes investors “should hold a balance of Power names and Regulated Utilities.”
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