TSX:NPI - Post Discussion
Post by
TimeBuilder on May 10, 2023 3:39pm
FYI: Credit Suisse Target Price 46$$ ;>O
12:22 PM EDT, 05/10/2023 (MT Newswires) -- Credit Suisse on Wednesday reiterated its outperform rating on the shares of Northland Power (NPI.TO) and its C$46.00 price target after the renewable-power producer reported first-quarter results below expectations.
"Northland Power Inc. (NPI) reported headline Q1 2023 EPS of C$0.27 that missed both our and the Street's identical C$0.50 views along with being beneath the C$0.41-C$0.60 range. Similarly, on adjusted EBITDA, NPI's C$352m missed our C$386m view, the Street's C$385m and the bottom of the C$372m-C$397m range. Versus our segmented estimates, the Onshore Renewables performed in line and the other groups were weaker (combination of lower production and weaker pricing). We note growth development capital was elevated in comparison to Q1 2022 as NPI continues to execute on many fronts as per the February Investor Day and various recent activities," analyst Andrew Kuske wrote.
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)
Price: 28.04, Change: -4.52, Percent Change: -13.88
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