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Investing.com - Desjardins upgraded Algonquin Power & Utilities Corp. (NYSE:AQN) (TSX:AQN) from Hold to Buy and raised its price target to $6.25 from $6.00.
The upgrade reflects "compelling valuation following recent weakness," according to Desjardins, which cited strong management and increased confidence that Algonquin can achieve its guidance targets.
The new price target implies a potential total return of approximately 21% for the utility company’s shares.
Desjardins noted that Algonquin is trading at 14.4 times projected 2027 earnings, compared to selected Canadian peers trading at 18.3 times earnings.
The firm recalibrated its model to align with the midpoint of Algonquin’s 2027 guidance range and recommended that investors "should be buying the dip" in the stock.
In other recent news, Algonquin Power & Utilities Corp . announced its second-quarter 2025 earnings, which met analysts’ expectations for both earnings per share (EPS) and revenue. The company reported an EPS of $0.04, aligning perfectly with forecasts. Revenue for the quarter was $535.59 million, slightly surpassing the anticipated $535.58 million. These results indicate steady performance in the company’s financial metrics. Despite the alignment with expectations, Algonquin’s stock faced a decline in pre-market trading. However, it showed a modest recovery shortly after. These developments are part of the company’s recent financial activities, providing investors with a clear picture of its current standing.
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