BMO Capital Power on Thursday maintained its outperform rating on the shares of Capital Power (CPX.TO) while trimming its price target to C$78.00 from C$79.00 following the company's annual investor day.
"On Dec. 9/10, we attended CPX's Investor Day in Toronto and Goreway site tour. CPX initiated an 8-10% AFFO/sh growth target through 2030 and maintained 2-4% divvy growth translating to 13-15% TSR. While the market took a double-take on the lower-than-expected 2026 guidance and increased appetite for U.S. merchant power exposure (shares down 5%), key here is we expect CPX to maintain a highly-contracted mix and significant upside optionality persist on capital light fleet optimizations. Target to $78 (vs. $79) and maintain Outperform rating with ~29% potential total return," analyst Ben Pham wrote.
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)
Price: 61.75, Change: -0.70, Percent Change: -1.12
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