Northland Power price target lowered to C$25 from C$28 at Scotiabank

Scotiabank lowered the firm’s price target on Northland Power (NPIFF) to C$25 from C$28 and keeps a Sector Perform rating on the shares as part of a Q4 preview for the utilities and energy infrastructure group. The firm is calling for some “sizable misses” in the power space, saying pricing and generation is expected to be weak in a variety of geographies. Scotiabank prefers the gas-levered pipeline and midstream names, followed by the renewables, and then the utility group. Tariffs could be a headwind for the mid-streamers and a tailwind for the utilities, the analyst tells investors in a research note.