As previously reported, Wells Fargo analyst Neil Kalton upgraded Algonquin Power to Overweight from Equal Weight with a $9 price target. The analyst cautions that his positive rating is dependent on management and the Board taking aggressive strategic actions to put the company on firmer financial footing. Such actions include a material dividend cut and a paring back of capital investment. Algonquin Power has scheduled a business update for January 12.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on AQN:
- Algonquin Power upgraded to Overweight from Equal Weight at Wells Fargo
- Largest borrow rate increases among liquid names
- Algonquin Power price target lowered to $8 from $12 at RBC Capital
- American Electric downgraded at BofA after Kentucky Power sale rejected
- Algonquin deal for Kentucky Power likely delayed, says RBC Capital