CIBC Believes Capital Power (TSX: CPX) Won’t Stop Here

By Jason Carr

Wall Street analyst has provided a review for the Utilities company on July 30, but retained the same rating on the stock. CIBC’s analyst Mark Jarvi reiterates their Buy rating on the shares of Capital Power (TSX: CPX), with a C$29 price target.

Jarvi has an average return of 13.7% when recommending Capital Power.

According to TipRanks.com, Jarvi is ranked #2811 out of 4840 analysts.

Capital Power has an analyst consensus of Strong Buy, with a price target consensus of C$28.50, representing a 7.9% upside. In a report issued on July 25, GMP FirstEnergy also reiterated a Buy rating on the stock with a C$29 price target.

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The company has a one-year high of C$26.51 and a one-year low of C$22.15. Currently, Capital Power has an average volume of 173.3K.

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$26.42, close to its 52-week high of C$26.51.