Algonquin Power & Utilities Corp. (AQN) PT Raised to $6.50 at RBC Capital

RBC Capital analyst Nelson Ng raised the price target on Algonquin Power & Utilities Corp. (NYSE: AQN) to $6.50 (from $6.00) while maintaining a Sector Perform rating.

The analyst comments "Our view: Management introduced its "Back to Basics" strategy, outlining EPS targets through 2027, a path to achieving 8.5% ROE, and ~5% CAGR rate base growth. We believe the plan exceeded investor expectations, particularly in 2027, and offered greater clarity through 2027, driving a ~16% increase in the stock price. We are raising our price target to $6.50 (from $6.00), but maintaining our Sector Perform rating as we see execution risk and believe the shares are fairly valued (currently trading at 21x and 17x the mid-point of management's 2026 and 2027 guidance respectively, excluding HLBV income)."

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