Royal Bank Of Canada Sets Price Target at C$80.00 for Capital Power

Canadian energy company Capital Power (TSE:CPX) has received a price objective of C$80.00 from Royal Bank Of Canada, according to research note issued on Thursday. This target indicates a potential upside of 29.60% from the company's current price.

The brokerage currently has an 'outperform' rating on the stock, which is in line with several other analysts who have given Capital Power positive ratings. BMO Capital Markets and National Bank Financial are among those that have upgraded their targets for the company in recent months.

Capital Power's current price of C$61.73 represents a 3.6% increase from yesterday, with over 216,000 shares trading hands. The company has a market capitalization of approximately C$9.70 billion and a price-to-earnings ratio of 108.30.

While some analysts have expressed caution on the company's high debt levels, many see it as a solid long-term investment due to its strong growth prospects and diversification in the power generation sector.