CIBC Forecasts Strong Price Appreciation for Capital Power (TSE:CPX) Stock

Capital Power (TSE:CPX) had its price target upped by CIBC from C$66.00 to C$72.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. CIBC’s target price suggests a potential upside of 25.39% from the company’s previous close.

A number of other research firms have also weighed in on CPX. TD Securities cut their price objective on Capital Power from C$70.00 to C$66.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. Desjardins upped their price objective on Capital Power from C$67.00 to C$68.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Jefferies Financial Group lowered Capital Power from a “buy” rating to a “hold” rating and upped their price objective for the stock from C$59.00 to C$60.00 in a research report on Thursday, June 12th. National Bankshares cut their price objective on Capital Power from C$65.00 to C$62.00 and set an “outperform” rating on the stock in a research report on Thursday, May 1st. Finally, BMO Capital Markets raised Capital Power from a “market perform” rating to an “outperform” rating in a report on Wednesday, April 23rd. Four equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$64.00.

Capital Power Stock Up 1.8%

Capital Power stock opened at C$57.42 on Thursday. Capital Power has a twelve month low of C$39.95 and a twelve month high of C$68.73. The stock’s fifty day simple moving average is C$55.07 and its 200-day simple moving average is C$53.42. The company has a current ratio of 1.05, a quick ratio of 0.55 and a debt-to-equity ratio of 136.03. The firm has a market capitalization of C$8.11 billion, a P/E ratio of 13.64, a P/E/G ratio of 0.91 and a beta of 0.64.

Insider Activity at Capital Power

In other Capital Power news, Senior Officer Jacquelyn Marie Pylypiuk sold 962 shares of the company’s stock in a transaction on Thursday, May 15th. The shares were sold at an average price of C$53.63, for a total value of C$51,590.14. Also, Senior Officer Jason Daniel Comandante sold 2,000 shares of the company’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of C$52.95, for a total transaction of C$105,900.00. Insiders have sold 8,672 shares of company stock valued at $460,121 over the last quarter. 0.17% of the stock is owned by insiders.

About Capital Power

Capital Power Corp is a North American power producer whose principal activities are developing, acquiring, and operating power plants. Through its subsidiary, Capital Power owns and operates a portfolio of natural gas, coal, wind, solar, and solid fuel energy generating facilities. These are located throughout Western and Central Canada and the U.S.