Canadian Imperial Bank of Commerce Forecasts Strong Price Appreciation for Northland Power (TSE:NPI) Stock

Northland Power (TSE:NPI) had its price target boosted by equities researchers at Canadian Imperial Bank of Commerce from C$24.00 to C$26.00 in a research note issued to investors on Friday,BayStreet.CA reports. The firm presently has an “outperform” rating on the solar energy provider’s stock. Canadian Imperial Bank of Commerce’s target price suggests a potential upside of 11.78% from the stock’s previous close.

A number of other analysts have also weighed in on NPI. ATB Cormark Capital Markets lowered their target price on Northland Power from C$23.00 to C$22.00 and set an “outperform” rating for the company in a research note on Tuesday, December 23rd. TD Securities increased their price objective on shares of Northland Power from C$21.00 to C$23.00 and gave the company a “hold” rating in a report on Friday, February 27th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Northland Power currently has an average rating of “Moderate Buy” and an average price target of C$24.00.

Northland Power Trading Down 0.0%

Shares of NPI opened at C$23.26 on Friday. The stock has a 50 day simple moving average of C$20.47 and a 200-day simple moving average of C$20.76. Northland Power has a 1 year low of C$15.96 and a 1 year high of C$25.99. The stock has a market cap of C$6.08 billion, a PE ratio of -35.78, a PEG ratio of 0.71 and a beta of 1.09. The company has a current ratio of 1.07, a quick ratio of 1.23 and a debt-to-equity ratio of 176.80.

Northland Power (TSE:NPI) last released its quarterly earnings data on Thursday, February 26th. The solar energy provider reported C$0.93 earnings per share (EPS) for the quarter. The firm had revenue of C$725.26 million during the quarter. Northland Power had a negative return on equity of 3.92% and a negative net margin of 6.69%.

Northland Power Company Profile

Northland Power develops, constructs, and operates maintainable infrastructure assets across a range of clean and green technologies, such as wind (offshore and onshore), solar, and supplying energy through a regulated utility. Offshore wind is expected to remain the company’s largest segment over the long term. Northland’s growth opportunities are global and span North America, Europe, Latin America, and Asia.