National Bank of Canada Raises Capital Power's Price Target to $66

11:15 AM EDT, 09/19/2025 (MT Newswires) -- National Bank of Canada on Thursday increased Capital Power (CPXWF) 's price target to $66 from $63 while its outperform rating remained unchanged.

Capital Power (CPXWF) announced the execution of a new long-term contract at its 50%-owned Midland Cogeneration Venture with Consumers Energy, the largest natural gas-fired combined electric and steam generation facility in the U.S.

The contract was extended by 10 years to 2040, providing continued incremental contracted revenue in Michigan.

National Bank said the recontracting success reinforces its value proposition thesis for the company's fleet of natural gas-fired power generation, as the MCV facility maintains grid reliability operating in the Midcontinent Independent System Operator region.

As the bank increased its long-term estimates for Capital Power (CPXWF), National Bank also raised the company's price target, reflecting a higher quality/contracted cash flow profile across its U.S. FlexGen portfolio, as well as the company's ongoing growth initiatives at its upcoming Investor Day Dec. 10.

Capital Power (CPXWF) traded at $64.52 per share at last look Friday on the TSX.

Price: 64.32, Change: -0.78, Percent Change: -1.20

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