BMO Capital Markets Forecasts Strong Price Appreciation for Capital Power (TSE:CPX) Stock

Capital Power (TSE:CPX) had its target price lifted by equities researchers at BMO Capital Markets from C$56.00 to C$68.00 in a report released on Wednesday,BayStreet.CA reports. The firm currently has a “market perform” rating on the stock. BMO Capital Markets’ target price would indicate a potential upside of 8.63% from the company’s previous close.

A number of other research analysts have also recently issued reports on CPX. ATB Capital raised their price target on shares of Capital Power from C$55.00 to C$57.00 in a report on Wednesday, November 27th. TD Securities upped their target price on Capital Power from C$61.00 to C$70.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Royal Bank of Canada lowered their price target on Capital Power from C$54.00 to C$53.00 and set a “sector perform” rating for the company in a research report on Thursday, October 31st. Atb Cap Markets downgraded Capital Power from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Finally, Scotiabank upgraded Capital Power from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from C$46.00 to C$60.00 in a research note on Thursday, October 31st. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of C$61.22.

Capital Power Stock Performance

CPX opened at C$62.60 on Wednesday. The firm’s 50-day moving average price is C$57.29 and its 200-day moving average price is C$47.86. The company has a market cap of C$8.13 billion, a P/E ratio of 12.40, a price-to-earnings-growth ratio of 0.91 and a beta of 0.64. The company has a quick ratio of 0.55, a current ratio of 0.88 and a debt-to-equity ratio of 133.46. Capital Power has a 52-week low of C$33.90 and a 52-week high of C$68.73.

Insider Buying and Selling

In related news, Senior Officer Bryan Deneve sold 6,100 shares of the business’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of C$50.55, for a total value of C$308,355.00. 0.17% of the stock is owned by corporate insiders.

About Capital Power

Capital Power Corporation develops, acquires, owns, and operates renewable and thermal power generation facilities in Canada and the United States. It generates electricity from various energy sources, including wind, solar, waste heat, natural gas, and coal. The company owns an approximately 7,500 megawatts (MW) of power generation capacity at 29 facilities.