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Analyst Actions: Northland Power Upgraded To Outperform At Raymond James

· 02/05/2021 02:51

07:45 AM EST, 02/05/2021 (MT Newswires) -- Northland Power Inc. (NPI.TO) was upgraded to Outperform from Market Perform at Raymond James on Friday.

Analyst David Quezada raised his price target on the stock to $57 from $50.

Quezada said his positive outlook on the stock comes despite a more than 60% rally in the past 12 months.

The analyst said Northland has made impressive progress building out a development pipeline that could double the company's size in five years.

"This long term potential growth cannot be ignored," Quezada said in a note to clients.

"Leveraging a first mover advantage with offshore wind development in Western Europe, Northland currently sits 4th among the top producers of offshore wind globally - a position it looks poised to maintain or improve in coming years," he said.

(MT Newswires 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://www.mtnewswires.com/contact-us)

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