Post by
BayWall on May 11, 2023 8:28am
Some target revisions
From another forum. Target prices coming down but still ok::ATB Capital Markets’ Nate Heywood cut his Northland Power Inc. (NPI-T) target to $45 from $48 with an “outperform” rating. Other changes include: Desjardins Securities’ Brent Stadler to $39 from $43 with a “buy” rating and CIBC’s Mark Jarvi to $39 from $42 with an “outperformer” rating.
The average is $44.07.
“It was a tough quarter, and continued inflationary pressures have further impacted the Baltic Power project cost, which we now estimate could total $6.3-billion (was $5.5-billion),” said Mr. Stadler. “In our view, achieving financial close on HL and BP, locking in project costs, and providing clarity on funding and concrete guidance on expected project returns could be well-received by investors and get the story back on track. We remain bullish on offshore wind over the longer term, but acknowledge near-term challenges remain.”