Capital Power (TSE:CPX) Price Target Cut to C$83.00 by Analysts at Canadian Imperial Bank of Commerce

Key Points

• CIBC lowered Capital Power’s price target to C$83 from C$85, while still implying 23.2% potential upside from the stock’s C$67.37 price. The analyst consensus remains “Buy,” with an average target of C$80.11.
• Capital Power shares rose 2.1% on Thursday to C$67.37. Other analysts remain broadly positive, including Desjardins, which rates the stock a “top pick,” and BMO and National Bank Financial, which both rate it “outperform.”
• The company reported quarterly revenue of C$714 million and a loss of C$0.33 per share, while an insider recently sold 1,500 shares at an average price of C$74.88.

Capital Power (TSE:CPX - Get Free Report) had its price objective dropped by equities research analysts at Canadian Imperial Bank of Commerce from C$85.00 to C$83.00 in a note issued to investors on Thursday,BayStreet.CA reports. Canadian Imperial Bank of Commerce's target price indicates a potential upside of 23.20% from the stock's current price.

CPX has been the topic of several other research reports. BMO Capital Markets raised their price target on shares of Capital Power from C$75.00 to C$85.00 and gave the company an "outperform" rating in a research report on Thursday, July 9th. Wells Fargo & Company increased their price objective on Capital Power from C$72.00 to C$75.00 and gave the stock an "equal weight" rating in a research note on Monday. Desjardins increased their price objective on Capital Power from C$82.00 to C$88.00 and gave the stock a "top pick" rating in a research note on Friday, July 3rd. Finally, National Bank Financial lifted their target price on Capital Power from C$75.00 to C$82.00 and gave the company an "outperform" rating in a research report on Monday, June 1st. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of C$80.11.

Capital Power Stock Up 2.1%

CPX traded up C$1.37 during trading on Thursday, hitting C$67.37. 378,011 shares of the company's stock were exchanged, compared to its average volume of 678,163. Capital Power has a fifty-two week low of C$56.08 and a fifty-two week high of C$77.02. The stock has a market cap of C$10.54 billion, a P/E ratio of -612.45, a PEG ratio of 0.91 and a beta of 0.63. The business's 50 day moving average is C$71.86 and its two-hundred day moving average is C$66.19. The company has a quick ratio of 0.55, a current ratio of 0.69 and a debt-to-equity ratio of 146.00.

Capital Power (TSE:CPX - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The company reported C($0.33) earnings per share (EPS) for the quarter. The business had revenue of C$714.00 million for the quarter. Capital Power had a net margin of 0.66% and a return on equity of 0.49%. As a group, equities analysts expect that Capital Power will post 2.8197088 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Capital Power news, insider Jason Daniel Comandante sold 1,500 shares of the company's stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of C$74.88, for a total value of C$112,320.00. Following the completion of the sale, the insider directly owned 8,711 shares of the company's stock, valued at approximately C$652,279.68. This represents a 14.69% decrease in their position. Company 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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