The Globe and Mail reports in its Friday, Oct. 31, edition that National Bank Financial analyst Patrick Kenny is keeping his "outperform" ranking for Capital Power intact. The Globe's David Leeder writes in the Eye On Equities column that Mr. Kenny gave his share target a $7 boost to $73. Analysts on average target the shares at $67.67. Mr. Kenny says in a note: "To capitalize on recovering Alberta market fundamentals post-2026, the company expects a 40-per-cent increase in outage days in 2026 as it opportunistically accelerates maintenance activities to capitalize on future widening spark spreads. As such, our 2026 estimated AFFO/sh taps down to $6.87 (was $7), while D/EBITDA bumps up to 3.6 times (was 3.5 times), while our longer-term estimates (2027+) edge higher on slightly stronger utilization being experienced across the PJM [Pennsylvania-New Jersey-Maryland Interconnection] assets." Capital Power posted third quarter adjusted earnings before interest, taxes and depreciation of $477-million, exceeding both Mr. Kenny's $474-million estimate and the consensus projection of $476-million. The Globe reported on Sept. 19 that Mr. Kenny had reaffirmed his "outperform" call for Capital Power. It was then worth $65.01.
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