Northland Power (TSE:NPI) Price Target Cut to C$27.00 by Analysts at Desjardins

Key Points

• Analysts at Desjardins have lowered the price target for Northland Power from C$28.00 to C$27.00, although they maintain a "buy" rating for the stock.
• Northland Power's current consensus rating is "Buy," with an average price target of C$27.07, despite other firms also adjusting their price targets.
• The company's stock decreased to C$24.53, amidst trading activity, and it currently has a market capitalization of C$6.41 billion.

Northland Power (TSE:NPI - Get Free Report) had its price target lowered by investment analysts at Desjardins from C$28.00 to C$27.00 in a note issued to investors on Tuesday,BayStreet.CA reports. The firm currently has a "buy" rating on the solar energy provider's stock. Desjardins' price target points to a potential upside of 10.07% from the stock's previous close.

A number of other research firms have also weighed in on NPI. Raymond James Financial reduced their target price on Northland Power from C$29.00 to C$28.00 and set an "outperform" rating for the company in a report on Friday, August 15th. CIBC boosted their price objective on Northland Power from C$28.00 to C$29.00 in a report on Monday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Northland Power currently has a consensus rating of "Buy" and an average price target of C$27.07.

Northland Power Price Performance

NPI stock traded down C$0.33 during mid-day trading on Tuesday, reaching C$24.53. 846,765 shares of the company traded hands, compared to its average volume of 903,458. The company has a debt-to-equity ratio of 181.28, a current ratio of 1.17 and a quick ratio of 1.23. The company has a market capitalization of C$6.41 billion, a P/E ratio of -116.81, a P/E/G ratio of 0.71 and a beta of 0.85. Northland Power has a 52-week low of C$16.14 and a 52-week high of C$25.03. The company has a fifty day moving average price of C$22.77 and a 200-day moving average price of C$21.40.

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.

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