The Globe and Mail reports in its Wednesday, Oct. 15, edition that Desjardins Securities analyst Brent Stadler continues to rate Northland Power "buy." The Globe's David Leeder writes in the Eye On Equities column that Mr. Stadler lowered his share target to $27 from $28. Analysts on average target the shares at $27.73. Mr. Stadler says in a note: "We reduced our 3Q25 estimates given expectations for higher curtailments at the German offshore wind projects, reflecting some conservatism in our pre-completion revenue forecast at Hai Long, lower onshore weather resources, and our lower thermal forecast. These factors were partially offset by expectations for modestly better offshore wind speeds and higher FX than we forecast (impactful to EBITDA, but FCF is largely hedged). We estimate adjusted FCF/share of five cents (from nine cents), which declines following the lower expected EBITDA.
What to watch for with 3Q25 results. Commentary with the quarter could be relatively brief given NPI is hosting its investor day on November 20. With the quarter, we will be looking for an update on the growth outlook including key markets."
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