Capital Power (CPX) Gets a Buy Rating from National Bank

By Carrie Williams

Today, an analyst has provided a rating update for the Utilities sector company, Capital Power (TSX: CPX). National Bank’s analyst Patrick Kenny reiterates their Buy rating on the shares, with a C$33 price target.

Currently, the analyst consensus on Capital Power is a Strong Buy with an average price target of C$29.33, which is a 4.0% upside from current levels. In a report released today, Raymond James also maintained a Buy rating on the stock with a C$31 price target.

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The company has a one-year high of C$27.96 and a one-year low of C$22.15. Currently, Capital Power has an average volume of 178.6K.

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 Friday at C$28.21.