Capital Power (TSE:CPX) Given New C$80.00 Price Target at Canadian Imperial Bank of Commerce

Key Points

• Canadian Imperial Bank of Commerce lowered Capital Power’s price target to C$80 from C$83, implying 28.23% potential upside from the current price of C$62.39.
• Analyst sentiment remains positive, with a consensus “Buy” rating and average price target of C$79.80; Desjardins assigned the highest target at C$88.
• Capital Power reported quarterly revenue of C$714 million and a loss of C$0.33 per share, while its stock remains below both its 50-day and 200-day moving averages.

Capital Power (TSE:CPX - Get Free Report) had its target price decreased by investment analysts at Canadian Imperial Bank of Commerce from C$83.00 to C$80.00 in a research report issued on Tuesday, BayStreet reports. Canadian Imperial Bank of Commerce's price target suggests a potential upside of 28.23% from the company's current price.

A number of other research analysts have also recently commented on the stock. Desjardins increased their price target on shares of Capital Power from C$82.00 to C$88.00 and gave the company a "top pick" rating in a research report on Friday, July 3rd. TD set a C$80.00 price objective on shares of Capital Power and gave the company a "buy" rating in a research note on Thursday, September 17th. Wells Fargo & Company upped their price objective on shares of Capital Power from C$72.00 to C$75.00 and gave the company an "equal weight" rating in a research note on Monday, July 27th. National Bank Financial increased their target price on shares of Capital Power from C$75.00 to C$82.00 and gave the company an "outperform" rating in a report on Monday, June 1st. Finally, BMO Capital Markets lowered their price target on shares of Capital Power from C$85.00 to C$81.00 and set an "outperform" rating for the company in a research note on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of C$79.80.

Capital Power Price Performance

CPX stock traded up C$0.10 during mid-day trading on Tuesday, hitting C$62.39. 288,660 shares of the stock were exchanged, compared to its average volume of 665,877. The business has a fifty day moving average price of C$65.98 and a 200 day moving average price of C$67.17. Capital Power has a 12 month low of C$56.48 and a 12 month high of C$77.02. The company has a debt-to-equity ratio of 150.64, a current ratio of 0.80 and a quick ratio of 0.55. The stock has a market capitalization of C$9.80 billion, a price-to-earnings ratio of 109.46, a PEG ratio of 0.91 and a beta of 0.61.

Capital Power (TSE:CPX - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The company reported C($0.33) earnings per share for the quarter. The firm had revenue of C$714.00 million for the quarter. Capital Power had a net margin of 3.05% and a return on equity of 2.31%. On average, sell-side analysts anticipate that Capital Power will post 2.8197088 EPS for the current year.

Insiders Place Their Bets

In other news, insider Jason Daniel Comandante sold 1,500 shares of the stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of C$74.88, for a total transaction of C$112,320.00. Following the completion of the sale, the insider owned 8,711 shares of the company's stock, valued at approximately C$652,279.68. This represents a 14.69% decrease in their ownership of the stock. Insiders own 0.17% of the company's stock.

Capital Power Company Profile

Capital Power TSX: CPX is a growth-oriented power producer with approximately 12 GW of power generation at 32 facilities, plus battery energy storage across North America. We prioritize safely delivering reliable and affordable power communities can depend on, building lower-carbon power systems, and creating balanced solutions for our energy future.

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