Looking at this is encouraging The Globe and Mail reports in its Friday, Dec. 13, edition that RBC Capital analyst Maurice Choy continues to rate Northland Power "outperform," with an unchanged share target of $28. The Globe's David Leeder writes in the Eye On Equities column that analysts on average target the shares at $29.31. Mr. Choy says in a note: "We believe the company is in an advantaged position relative to peers with three fully funded projects that should generate $600-million of EBITDA and $200-million of FCF (CAFD) on completion (2025-27), which is equivalent to roughly 50 per cent and 60 per cent of the management's 2024 EBITDA and FCF guidance, respectively. With financial close achieved on all three projects, the developments are fully funded, significantly derisked, with fixed interest rates, hedged currency exposure, and the vast majority of construction costs are fixed. Pursuing incremental growth opportunities would be entirely discretionary." For mid-stream companies, Mr. Choy argues new takeaway capacities should "firm up long-term thesis on transformational WCSB growth." The Globe reported on June 13 that Scotia Capital's Robert Hope continued to rate Northland Power "sector perform." The shares were then worth $24.65.
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-------The $29.31 target probably incorporates future profits. Still interested as to what the company intends to do in Canada, in addition to the solar project in Alberta.