Crdit Suisse a “neutral” rating and US$17.50 target price. Credit Suisse analyst Andrew M. Kuske initiated coverage on Algonquin Power & Utilities Corp. (AQN-N) with a “neutral” rating and US$17.50 target price.
“In our view, AQN’s growth rates and opportunity set are impressive; however, the stock appears to currently reflect most of that reality at this time,” Mr. Kuske concluded.
He noted that Algonquin has a “hybrid” position in the market, with its activities split towards its utilities business and its renewables segment.
“AQN faces positive prospects across both these business groups that are driven by some company-specific dynamics along with an overarching theme of renewable power generation growth,” he cautioned.