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.
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