Algonquin Power price target raised to $6.50 from $6 at TD Securities

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.