Northland Power (TSE:NPI) Given New C$23.00 Price Target at CIBC

Northland Power (TSE:NPI) had its target price lifted by CIBC from C$22.00 to C$23.00 in a research report issued on Wednesday,BayStreet.CA reports. CIBC’s price target would indicate a potential upside of 38.39% from the company’s current price.

Several other analysts also recently commented on NPI. Desjardins downgraded Northland Power from a “moderate buy” rating to a “hold” rating in a research note on Thursday, November 13th. Raymond James Financial decreased their price target on Northland Power from C$25.00 to C$23.00 in a report on Monday, November 24th. Scotiabank lowered their price target on Northland Power from C$24.00 to C$23.00 in a research report on Friday, November 21st. ATB Capital cut their price objective on shares of Northland Power from C$26.00 to C$23.00 in a report on Friday, November 21st. Finally, TD Securities lowered shares of Northland Power from a “buy” rating to a “hold” rating and reduced their target price for the stock from C$22.00 to C$19.00 in a research note on Friday, November 21st. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, Northland Power has an average rating of “Moderate Buy” and a consensus price target of C$23.28.

Northland Power Stock Down 4.2%

Shares of Northland Power stock traded down C$0.73 during trading hours on Wednesday, reaching C$16.62. The company’s stock had a trading volume of 1,693,988 shares, compared to its average volume of 1,042,018. The company has a market capitalization of C$4.35 billion, a P/E ratio of -15.25, a P/E/G ratio of 0.71 and a beta of 0.79. The stock’s fifty day simple moving average is C$21.37 and its two-hundred day simple moving average is C$22.02. Northland Power has a one year low of C$15.96 and a one year high of C$25.99. The company has a debt-to-equity ratio of 181.28, a quick ratio of 1.23 and a current ratio of 1.17.

Northland Power (TSE:NPI) last posted its earnings results on Thursday, November 13th. The solar energy provider reported C($1.58) EPS for the quarter. Northland Power had a negative return on equity of 3.37% and a negative net margin of 5.92%.The business had revenue of C$554.48 million for the quarter.

About Northland Power

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.