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CIBC Sticks to Its Hold Rating for Algonquin Power & Utilities (AQN)

Tipranks - Tipranks - Wed Mar 11, 10:26AM CDT

CIBC analyst Mark Jarvi maintained a Hold rating on Algonquin Power & Utilities today and set a price target of $6.25.

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According to TipRanks, Jarvi is a 5-star analyst with an average return of 12.3% and a 67.35% success rate. Jarvi covers the Utilities sector, focusing on stocks such as TransAlta, Clearway Energy, and Brookfield Renewable Partners.

In addition to CIBC, Algonquin Power & Utilities also received a Hold from TD Cowen’s John Mould in a report issued yesterday. However, on the same day, Desjardins maintained a Buy rating on Algonquin Power & Utilities (NYSE: AQN).

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Based on Algonquin Power & Utilities’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of C$582.7 million and a net profit of C$38.9 million. In comparison, last year the company earned a revenue of C$573.2 million and had a GAAP net loss of C$1.31 billion

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