The Globe and Mail reports in its Friday, Aug. 2, edition that Desjardins Securities analyst Brent Stadler continues to rate Capital Power "buy." The Globe's David Leeder writes in the Eye On Equities column that Mr. Stadler boosted his share target by a loonie to $53. Analysts on average target the shares at $43.91.
Mr. Stadler says in a note: "The fundamentals for gas remain strong as highlighted by elevated dispatches playing out the thesis that gas is critical to grid reliability which we expect will continue and strengthen for decades to come. Capital Power reiterated it is having conversations with several technology companies in both Canada and the U.S., and we believe a datacentre/hyperscaler announcement is likely in the next six to 12 months -- a material catalyst. Capital Power remains a favourite name to play the energy transition and AI/datacentre themes." The Globe reported on May 10 and June 7 that Mr. Stadler recommended buying more Capital Power shares, which were then going for $37.50 and $39.76. The Globe reported on July 23 that CIBC World Markets analysts Robert Catellier and Mark Jarvi had reaffirmed their "neutral" call on Capital Power. The shares could then be had for $41.19.
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