Canadian Imperial Bank of Commerce Cuts Capital Power (TSE:CPX) Price Target to C$80.00

Capital Power (TSE:CPX) had its target price dropped by Canadian Imperial Bank of Commerce from C$83.00 to C$80.00 in a research report issued to clients and investors on Tuesday, BayStreet reports. Canadian Imperial Bank of Commerce’s price objective suggests a potential upside of 28.23% from the company’s current price.

CPX has been the subject of several other reports. BMO Capital Markets dropped their target price on shares of Capital Power from C$85.00 to C$81.00 and set an “outperform” rating for the company in a research report on Thursday, July 30th. Scotiabank lowered their price objective on shares of Capital Power from C$80.00 to C$79.00 and set a “sector outperform” rating for the company in a report on Thursday, July 30th. National Bank Financial lifted their price objective on Capital Power from C$75.00 to C$82.00 and gave the company an “outperform” rating in a research report on Monday, June 1st. Desjardins increased their target price on Capital Power from C$82.00 to C$88.00 and gave the stock a “top pick” rating in a research report on Friday, July 3rd. Finally, TD set a C$80.00 target price on Capital Power and gave the company a “buy” rating in a research note on Thursday, September 17th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of C$79.80.

Capital Power Trading Up 0.2%

TSE:CPX traded up C$0.10 during mid-day trading on Tuesday, reaching C$62.39. 288,660 shares of the company’s stock traded hands, compared to its average volume of 665,877. The company has a 50 day moving average price of C$65.98 and a 200-day moving average price of C$67.17. The firm has a market capitalization of C$9.80 billion, a price-to-earnings ratio of 109.46, a PEG ratio of 0.91 and a beta of 0.61. The company has a debt-to-equity ratio of 150.64, a current ratio of 0.80 and a quick ratio of 0.55. Capital Power has a 12-month low of C$56.48 and a 12-month high of C$77.02.

Capital Power (TSE:CPX) last released its quarterly earnings data on Wednesday, July 29th. The company reported C($0.33) earnings per share for the quarter. The business had revenue of C$714.00 million during the quarter. Capital Power had a return on equity of 2.31% and a net margin of 3.05%. On average, sell-side analysts predict that Capital Power will post 2.8197088 earnings per share for the current year.

Insider Activity at Capital Power

In related news, insider Jason Daniel Comandante sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of C$74.88, for a total value of C$112,320.00. Following the sale, the insider owned 8,711 shares in the company, valued at C$652,279.68. This represents a 14.69% decrease in their position. 0.17% of the stock is currently owned by corporate insiders.

About Capital Power

Capital Power (TSX: CPX) is a growth-oriented power producer with approximately 12 GW of power generation at 32 facilities, plus battery energy storage across North America. We prioritize safely delivering reliable and affordable power communities can depend on, building lower-carbon power systems, and creating balanced solutions for our energy future.