Scotiabank analyst Robert Hope upgraded Northland Power (NPIFF) to Outperform from Sector Perform with a price target of C$26, up from C$25. A weak quarter operationally was “expected” but “more importantly,” Northland’s large offshore wind projects, Hai Long and Baltic Power, remain on budget and on schedule, the analyst tells investors. The firm’s prior cautious view on the shares was largely a function of the execution risk of these two large offshore wind projects, but it is now incrementally more positive on the shares given the progress of these projects, the analyst added.
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Read More on NPIFF:
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