Raymond James Financial Forecasts Strong Price Appreciation for Northland Power (TSE:NPI) Stock

Northland Power (TSE:NPI) had its price target upped by analysts at Raymond James Financial from C$25.50 to C$26.00 in a research report issued on Friday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the solar energy provider’s stock. Raymond James Financial’s price objective would indicate a potential upside of 14.14% from the stock’s previous close.

A number of other research firms have also weighed in on NPI. TD Securities increased their target price on Northland Power from C$21.00 to C$23.00 and gave the stock a “hold” rating in a research note on Friday, February 27th. Desjardins reduced their target price on Northland Power from C$24.00 to C$23.00 and set a “hold” rating on the stock in a research note on Friday. Canadian Imperial Bank of Commerce increased their target price on Northland Power from C$24.00 to C$26.00 and gave the stock an “outperform” rating in a research note on Friday, March 27th. National Bank Financial increased their target price on Northland Power from C$27.00 to C$28.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, TD increased their target price on Northland Power from C$24.00 to C$25.00 and gave the stock a “hold” rating in a research note on Friday. Four investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of C$24.80.

Northland Power Trading Up 0.7%

NPI traded up C$0.15 during trading on Friday, reaching C$22.78. The company had a trading volume of 344,388 shares, compared to its average volume of 1,034,249. The stock has a market cap of C$5.96 billion, a P/E ratio of -35.05, a PEG ratio of 0.71 and a beta of 0.90. The business has a 50 day simple moving average of C$22.84 and a 200-day simple moving average of C$20.64. Northland Power has a 52 week low of C$15.96 and a 52 week high of C$25.99. 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 (TSE:NPI) last issued its quarterly earnings results on Thursday, May 14th. The solar energy provider reported C$0.33 earnings per share (EPS) for the quarter. The company had revenue of C$776.97 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.