TD Securities raised the firm’s price target on Algonquin Power (AQN) to $6.50 from $6 and keeps a Hold rating on the shares. Investors reacted positively to the company’s “ambitious” growth targets, the analyst tells investors in a research note. The firm says meeting the objectives depends on Algonquin’s ability to cut costs and “bridge the wide gap” between its earned and allowed return on equity.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AQN:
- Algonquin Power price target raised to $6.25 from $5.75 at CIBC
- Algonquin Power price target raised to $6.50 from $6 at Scotiabank
- Apple downgraded, Snowflake upgraded: Wall Street’s top analyst calls
- Algonquin Power price target raised to $6 from $5 at Raymond James
- Algonquin Power downgraded to Sector Perform from Outperform at National Bank
Looking for a trading platform? Check out TipRanks' Best Online Brokers guide, and find the ideal broker for your trades.
Report an Issue