In a report released yesterday, Mark Jarvi from CIBC reiterated a Buy rating on Northland Power (NPIFF), with a price target of C$33.00. The company’s shares closed last Monday at $23.58.
According to TipRanks.com, Jarvi is a 4-star analyst with an average return of 8.8% and a 64.6% success rate. Jarvi covers the Utilities sector, focusing on stocks such as Brookfield Renewable Partners, Algonquin Power & Utilities, and Just Energy Group.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Northland Power with a $24.96 average price target, a 2.2% upside from current levels. In a report issued on February 25, Raymond James also maintained a Buy rating on the stock with a C$34.00 price target.
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Based on Northland Power’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $34.29 million. In comparison, last year the company had a net profit of $32.7 million.
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Northland Power, Inc. engages in the development, building, owning, and managing wind facilities. It operates through the following segments: Offshore Wind, Thermal, On-shore Renewables, and Other. The Offshore Wind segment comprises Gemini, Nordsee One, and Deutsche Bucht projects.
