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Northland Power Upgraded to Buy at TD

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Northland Power Inc. (NPI.TO) was upgraded to buy from hold at TD Securities on Friday.

Analyst Sean Steuart maintained a price target of C$25 on shares of the Canadian power producer ahead of its Q2 results on Aug. 12.

"Following recent share price underperformance, we believe that NPI's valuation has contracted to an attractive level," Steuart said in a note to clients.

"We believe its valuation should normalize as offshore wind construction is complete and the growth pipeline is refreshed," the analyst said.

(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

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