BMO Capital Believes Capital Power (TSX: CPX) Still Has Room to Grow

By Jason Carr

In a latest note to investors, a research analyst has provided a rating update for the Utilities sector company, Capital Power (CPXResearch Report). The company received a Buy today from BMO Capital’s analyst Benjamin Pham, with a C$31 price target.

According to TipRanks.com, Pham is a 5-star analyst with an average return of 7.9% and a 76.5% success rate. Pham covers the Utilities sector, focusing on stocks such as Brookfield Renewable Partners L.P., Pattern Energy, and Fortis Inc.

The word on The Street in general, suggests a Hold analyst consensus rating for Capital Power with a C$30 average price target.

Capital Power’s market cap is currently C$3.08B and has a P/E ratio of 39. The company has a Price to Book ratio of 1.05.

Capital Power Corp. engages in the development, acquisition, construction, operation, and optimization of power generation facilities. Its projects include Halkirk, Port Dover and Nanticoke, Keephills 3, and K2 wind power. The company was founded on May 1, 2009 and is headquartered in Edmonton, Canada.

The company’s shares closed on Wednesday at C$29.56, close to its 52-week high of C$30.25.