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

Key Points

• TD Securities has raised the price target for Capital Power (TSE:CPX) from C$66.00 to C$69.00, indicating a potential upside of 10.28% from the current price.
• The stock has received multiple upgrades from various analysts, with a current consensus rating of "Moderate Buy" and an average price target of C$64.11.
• Capital Power's stock price increased by 1.4% recently, reaching C$62.57, with a robust market capitalization of C$8.84 billion.

Capital Power (TSE:CPX - Get Free Report) had its price target raised by equities research analysts at TD Securities from C$66.00 to C$69.00 in a note issued to investors on Tuesday,BayStreet.CA reports. The firm currently has a "buy" rating on the stock. TD Securities' price target points to a potential upside of 10.28% from the company's current price.

Other analysts have also recently issued reports about the stock. Scotiabank boosted their price objective on shares of Capital Power from C$64.00 to C$67.00 in a research note on Friday, July 18th. Jefferies Financial Group cut shares of Capital Power from a "buy" rating to a "hold" rating and upped their target price for the company from C$59.00 to C$60.00 in a research note on Thursday, June 12th. Desjardins upped their target price on shares of Capital Power from C$67.00 to C$68.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. CIBC increased their price objective on shares of Capital Power from C$66.00 to C$72.00 in a research note on Thursday, July 10th. Finally, BMO Capital Markets raised shares of Capital Power from a "market perform" rating to an "outperform" rating in a report on Wednesday, April 23rd. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of C$64.11.

Capital Power Stock Up 1.4%

CPX stock traded up C$0.87 during midday trading on Tuesday, reaching C$62.57. The company had a trading volume of 253,928 shares, compared to its average volume of 843,499. Capital Power has a 1 year low of C$41.21 and a 1 year high of C$68.73. The company has a current ratio of 1.05, a quick ratio of 0.55 and a debt-to-equity ratio of 136.03. The company has a market capitalization of C$8.84 billion, a P/E ratio of 14.87, a PEG ratio of 0.91 and a beta of 0.64. The company has a 50 day moving average of C$56.71 and a two-hundred day moving average of C$53.09.

Insider Activity

In related news, Senior Officer Sandra Anne Haskins sold 5,710 shares of the company's stock in a transaction dated Friday, May 9th. The shares were sold at an average price of C$53.00, for a total transaction of C$302,631.14. Also, Senior Officer Jacquelyn Marie Pylypiuk sold 962 shares of the business's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of C$53.63, for a total value of C$51,590.14. Over the last 90 days, insiders sold 8,672 shares of company stock valued at $460,121. 0.17% of the stock is owned by company insiders.

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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