CIBC Keeps Their Hold Rating on Capital Power (CPX)

By Jason Carr

In a latest note to investors, a research analyst has provided a rating update for the Capital Power (CPXResearch Report). The company received a Hold today from CIBC’s analyst Mark Jarvi, with a C$31.50 price target.

Jarvi has an average return of 9.2% when recommending Capital Power.

According to TipRanks.com, Jarvi is ranked #4044 out of 5231 analysts.

Capital Power has an analyst consensus of Hold, with a price target consensus of C$30.50.

Based on Capital Power’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of C$349 million and net profit of C$141 million. In comparison, last year the company earned revenue of C$296 million and had a net profit of C$43 million.

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$31.40, close to its 52-week high of C$32.44.