Raymond James Financial Forecasts Strong Price Appreciation for Northland Power (TSE:NPI) Stock

Northland Power (TSE:NPI) had its price objective raised by stock analysts at Raymond James Financial from C$25.50 to C$26.00 in a note issued to investors on Friday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the solar energy provider’s stock. Raymond James Financial’s price objective would suggest a potential upside of 14.14% from the stock’s current price.

A number of other equities research analysts have also weighed in on NPI. National Bank Financial boosted their price target on Northland Power from C$27.00 to C$28.00 and gave the stock an “outperform” rating in a research note on Friday. Canadian Imperial Bank of Commerce boosted their price target on Northland Power from C$24.00 to C$26.00 and gave the stock an “outperform” rating in a research note on Friday, March 27th. Desjardins dropped their price objective on shares of Northland Power from C$24.00 to C$23.00 and set a “hold” rating on the stock in a report on Friday. TD boosted their price objective on shares of Northland Power from C$24.00 to C$25.00 and gave the company a “hold” rating in a report on Friday. Finally, TD Securities boosted their price objective on shares of Northland Power from C$21.00 to C$23.00 and gave the company a “hold” rating in a report on Friday, February 27th. Four analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of C$24.80.

Northland Power Stock Up 0.7%

NPI traded up C$0.15 on Friday, hitting C$22.78. The company had a trading volume of 344,388 shares, compared to its average volume of 1,034,249. The company has a debt-to-equity ratio of 176.80, a quick ratio of 1.23 and a current ratio of 1.07. The stock has a market capitalization of C$5.96 billion, a price-to-earnings ratio of -35.05, a P/E/G ratio of 0.71 and a beta of 0.90. The stock has a fifty day moving average price of C$22.84 and a 200-day moving average price of C$20.64. Northland Power has a 12-month low of C$15.96 and a 12-month high of C$25.99.

Northland Power (TSE:NPI) last issued its quarterly earnings results on Thursday, May 14th. The solar energy provider reported C$0.33 earnings per share for the quarter. Northland Power had a negative return on equity of 3.92% and a negative net margin of 6.69%.The business had revenue of C$776.97 million for the quarter.

About Northland Power

Northland Power develops, constructs, and operates maintainable infrastructure assets across a range of clean and green technologies, such as wind (offshore and onshore), solar, and supplying energy through a regulated utility. Offshore wind is expected to remain the company’s largest segment over the long term. Northland’s growth opportunities are global and span North America, Europe, Latin America, and Asia.