CIBC Forecasts Strong Price Appreciation for Capital Power (TSE:CPX) Stock

Key Points

• CIBC has raised its target price for Capital Power (TSE:CPX) from C$72.00 to C$85.00, indicating a potential upside of 18.81% from its previous close.
• Several other analysts have also increased their price targets for Capital Power, with a majority rating the stock as either a Buy or Outperform.
• As of the latest trading, Capital Power shares are up 0.5%, reaching C$71.54, with a market cap of C$11.10 billion.

Capital Power (TSE:CPX - Get Free Report) had its target price lifted by analysts at CIBC from C$72.00 to C$85.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. The firm currently has an "outperform" rating on the stock. CIBC's price target indicates a potential upside of 18.81% from the stock's previous close.

Other equities research analysts have also issued research reports about the stock. Royal Bank Of Canada raised shares of Capital Power from a "sector perform" rating to an "outperform" rating and lifted their price objective for the company from C$65.00 to C$67.00 in a research note on Thursday, July 31st. TD Securities lifted their price objective on shares of Capital Power from C$69.00 to C$72.00 and gave the company a "buy" rating in a research note on Friday, September 19th. Desjardins lifted their price objective on shares of Capital Power from C$75.00 to C$80.00 and gave the company a "buy" rating in a research note on Friday, September 19th. National Bankshares lifted their price objective on shares of Capital Power from C$64.00 to C$66.00 and gave the company an "outperform" rating in a research note on Friday, September 19th. Finally, Scotiabank lifted their price objective on shares of Capital Power from C$75.00 to C$80.00 and gave the company a "sector perform" rating in a research note on Monday. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of C$71.33.

Capital Power Stock Up 0.5%

Shares of TSE:CPX traded up C$0.33 during trading on Monday, reaching C$71.54. 270,760 shares of the company traded hands, compared to its average volume of 803,885. The firm has a fifty day simple moving average of C$63.11 and a 200 day simple moving average of C$57.34. The firm has a market cap of C$11.10 billion, a P/E ratio of 22.93, a price-to-earnings-growth ratio of 0.91 and a beta of 0.49. Capital Power has a 1-year low of C$41.87 and a 1-year high of C$73.51. The company has a quick ratio of 0.55, a current ratio of 1.05 and a debt-to-equity ratio of 136.03.

About Capital Power

Capital Power Corp is a North American power producer whose principal activities are developing, acquiring, and operating power plants. Through its subsidiary, Capital Power owns and operates a portfolio of natural gas, coal, wind, solar, and solid fuel energy generating facilities. These are located throughout Western and Central Canada and the U.S.

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