Canadian Imperial Bank of Commerce Raises Northland Power (TSE:NPI) Price Target to C$26.00

Northland Power (TSE:NPI) had its price target hoisted by equities research analysts at Canadian Imperial Bank of Commerce from C$24.00 to C$26.00 in a research note issued on Friday,BayStreet.CA reports. The firm currently has an “outperform” rating on the solar energy provider’s stock. Canadian Imperial Bank of Commerce’s target price indicates a potential upside of 12.46% from the stock’s current price.

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

Northland Power Stock Down 0.6%

Shares of TSE NPI traded down C$0.15 during midday trading on Friday, reaching C$23.12. 611,742 shares of the company’s stock traded hands, compared to its average volume of 996,432. The company has a market cap of C$6.05 billion, a price-to-earnings ratio of -35.57, a P/E/G ratio of 0.71 and a beta of 1.09. The stock’s 50 day simple moving average is C$20.38 and its 200-day simple moving average is C$20.77. The company has a quick ratio of 1.23, a current ratio of 1.07 and a debt-to-equity ratio of 176.80. Northland Power has a one year low of C$15.96 and a one year high of C$25.99.

Northland Power (TSE:NPI) last posted its earnings results on Thursday, February 26th. The solar energy provider reported C$0.93 earnings per share for the quarter. The company 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%.

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. Northland’s growth opportunities are global and span North America, Europe, Latin America, and Asia.