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

Northland Power (TSE:NPI) had its price objective hoisted by research analysts at Canadian Imperial Bank of Commerce from C$24.00 to C$26.00 in a research report issued on Friday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the solar energy provider’s stock. Canadian Imperial Bank of Commerce’s price objective would indicate a potential upside of 12.46% from the company’s previous close.

Several other analysts also recently weighed in on the company. ATB Cormark Capital Markets decreased 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 report on Tuesday, December 23rd. TD Securities raised their price target on shares of 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. One investment 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of C$24.00.

Northland Power Trading Down 0.6%

Northland Power stock traded down C$0.15 during midday trading on Friday, reaching C$23.12. The stock had a trading volume of 611,742 shares, compared to its average volume of 996,432. The company has a quick ratio of 1.23, a current ratio of 1.07 and a debt-to-equity ratio of 176.80. The firm has a market cap of C$6.05 billion, a price-to-earnings ratio of -35.57, a price-to-earnings-growth ratio of 0.71 and a beta of 1.09. Northland Power has a 52-week low of C$15.96 and a 52-week high of C$25.99. The company has a fifty day moving average of C$20.38 and a 200 day moving average of C$20.77.

Northland Power (TSE:NPI) last announced its earnings results on Thursday, February 26th. The solar energy provider reported C$0.93 earnings per share (EPS) for the quarter. Northland Power had a negative return on equity of 3.92% and a negative net margin of 6.69%.The business had revenue of C$725.26 million during 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. Northland’s growth opportunities are global and span North America, Europe, Latin America, and Asia.