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.
Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
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