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Analysts at CIBC initiated coverage on shares of Pattern Energy Group (NASDAQ:PEGI) in a research report issued to clients and investors on Thursday, TheFlyOnTheWall.com reports. The firm set an “outperform” rating and a $31.00 price target on the stock. CIBC’s price target would suggest a potential upside of 15.54% from the company’s current price.

Separately, analysts at Morgan Stanley reiterated an “equal weight” rating on shares of Pattern Energy Group in a research note on Monday, March 3rd. They now have a $31.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Pattern Energy Group presently has an average rating of “Buy” and an average price target of $30.90.

Shares of Pattern Energy Group (NASDAQ:PEGI) traded up 0.11% on Thursday, hitting $26.83. 228,630 shares of the company’s stock traded hands. Pattern Energy Group has a one year low of $22.26 and a one year high of $31.79. The stock has a 50-day moving average of $27.54 and a 200-day moving average of $26.82. The company’s market cap is $953.8 million.

Pattern Energy Group (NASDAQ:PEGI) last posted its quarterly earnings results on Friday, February 28th. The company reported ($0.17) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.19) by $0.02. The company had revenue of $41.77 million for the quarter, compared to the consensus estimate of $53.96 million. Analysts expect that Pattern Energy Group will post $0.57 EPS for the current fiscal year.

Pattern Energy Group Inc is an independent power company focused on owning and operating power projects.

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