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Analyst Actions: Northland Power Outperform Rating Maintained at Credit Suisse

· 02/05/2021 06:21

11:10 AM EST, 02/05/2021 (MT Newswires) -- Credit Suisse on Friday reiterated its outperform rating on the shares of Northland Power (NPI.TO) with C$56.00 target price after the company released its 2021 guidance.

"Our earlier note provide a summary of key metrics along with guidance, but after the event, we focus on the "duration dichotomy" - partly given NPI's 2021-2025 "focus on providing near-term cash flow" and the 2026-2030 theme of "accelerating growth"," the investment bank said in a note. "Clearly, NPI needs to successfully navigate this divide to build longer term value. Yet, the tilt into faster cash conversion cycles (via potential M&A and development) should still help build a broader and more sustainable business. Moreover, the successful execution of these objectives should ultimately help the de-risking of more accelerated growth arising from NPI's stronger longer-term positioning in the offshore wind sector. On balance, we have a more constructive view of the NPI following the investor day and, in the near-term, one should focus on the February 19th New York State award date for onshore wind developments as discussed at the event."

(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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