Capital Power (TSX: CPX), the Utilities sector company was revisited on September 6, and remains undervalued for at least one analyst on the street. On September 6, analyst Benjamin Pham gave a Buy rating to CPX and set a C$29 price target.
Pham has an average return of 6.2% when recommending Capital Power.
According to TipRanks.com, Pham is ranked #611 out of 4872 analysts.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Capital Power with a C$29.38 average price target, implying a 4.1% upside from current levels. In a report released yesterday, National Bank also maintained a Buy rating on the stock with a C$33 price target.
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Based on Capital Power’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of C$360 million and net profit of C$70 million. In comparison, last year the company earned revenue of C$227 million and had a net profit of C$109 million.
Capital Power Corp. engages in the development, acquisition, construction, operation, and optimization of power generation facilities. Its projects include Halkirk, Port Dover and Nanticoke, Keephills 3, and K2 wind power. The company was founded on May 1, 2009 and is headquartered in Edmonton, Canada.
The company’s shares closed on Friday at C$28.21, close to its 52-week high of C$28.38.
