Algonquin Power price target raised to $5.50 from $5.25 at Scotiabank

Scotiabank raised the firm’s price target on Algonquin Power (AQN) to $5.50 from $5.25 and keeps a Sector Perform rating on the shares. The firm is introducing its 2027 estimates for its Canadian energy infrastructure coverage and providing perspectives on its outlook for the space, the analyst tells investors. Tailwinds from power and natural gas demand are driving increased opportunities to put capital to work and there is an upward bias to its estimates longer-term related to these themes, the firm adds.