FYI: National Banks comments 11:32 AM EST, 12/02/2022 (MT Newswires) -- National Bank said Thursday that Northland Power Inc. (NPI.TO) could "still see a windfall" with planned price caps in Germany.
France, Germany, and the Netherlands are releasing individual plans after the European Union decided to implement a revenue cap for renewable power producers.
"Based on the most recent draft legislation, NPI could still see upside on its contract prices in Germany and would not lose out on its Netherlands contract," the analysts said.
Also, the analysts updated forecasts to account for lower realized prices so far in the fourth quarter and updated forecasts for 2023E.
National Bank maintained its outperform rating on the company with a price target of $47.
The company's shares rose 0.5% on last look on Friday.
Price: 37.66, Change: +0.20, Percent Change: +0.53