A Wall Street analyst has provided a review for the Utilities company yesterday, but retained the same rating on the stock. Analyst Mark Jarvi from CIBC remains bullish on Algonquin Power & Util (AQN) and has a C$13.50 price target.
According to TipRanks.com, Jarvi is a 2-star analyst with an average return of 0.1% and a 54.9% success rate. Jarvi covers the Utilities sector, focusing on stocks such as Algonquin Power & Utilities Corp, Just Energy Group Inc, and Fortis Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Algonquin Power & Util with a C$14.83 average price target, implying a -13.5% downside from current levels. In a report issued on August 9, RBC Capital also maintained a Buy rating on the stock.
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Algonquin Power & Util’s market cap is currently C$8.45B and has a P/E ratio of 24.7. The company has a Price to Book ratio of 2.07.
Algonquin Power & Utilities Corp. is a diversified utility company, which through its subsidiaries, engages in the ownership and operation of a portfolio of regulated and non-regulated generation, distribution, and transmission utility assets.
The company’s shares closed on Friday at C$17.15, close to its 52-week high of C$17.21.
