Raymond James Maintains Their Buy Rating on Capital Power (CPX)

By Austin Angelo

In a latest note to investors, a research analyst has provided a rating update for the Utilities sector company, Capital Power (TSX: CPX). The company received a Buy today from Raymond James’ analyst David Quezada, with a C$31 price target.

Quezada has an average return of 16.9% when recommending Capital Power.

According to TipRanks.com, Quezada is ranked #2823 out of 4875 analysts.

Capital Power has an analyst consensus of Strong Buy, with a price target consensus of C$29.33, implying a 4.0% upside from current levels. In a report released today, National Bank also maintained a Buy rating on the stock with a C$33 price target.

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Based on Capital Power’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of C$360 million and net profit of C$70 million. In comparison, last year the company earned revenue of C$227 million and had a net profit of C$109 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 Friday at C$28.21.