TD Cowen raises PT on Capital Power Corp

Capital Power

19/09/2025 13:22

** TD Cowen raises price target on Canadian power producer Capital Power Corp CPX.TO to C$72 from C$69

     ** The new price target represents a ~11% upside to the Canadian stock's last close

** Brokerage believes the core profit uplift was ahead of investor expectations and Midland Cogeneration Venture (MCV) was not viewed as the nearest term recontracting opportunity

** Says investors have been keen to see broader tailwinds for electricity demand translate to a recontracting win

** "We believe investors anticipated CPX’s first contract extension would likely come from one of its Arizona assets," - brokerage

** Adds that it estimates this extension will increase CPX's weighted average power purchase agreement life for contracted assets by nearly 1 year to about 8 years

** 9 of 11 brokerages rate the stock "buy" or higher, 2 "hold"; median PT is C$69- data by LSEG

** As of last close, stock up 2% YTD

 (Reporting by Dharna Bafna)

 ((Dharna.bafna@thomsonreuters.com))