Should you sell your Northland Power stock?

Desjardins Securities analyst Brent Stadler said in an Oct. 13 note that he expects a “bit weaker” third quarter for Northland Power (Northland Power Stock Quote, Chart, News, Analysts, Financials TSX:NPI), trimming his target price to $27.00 from $28.00 while maintaining a “Buy” rating.

As reported by the Globe and Mail, Stadler said his revised estimates reflect “higher curtailments at the German offshore wind projects, some conservatism in our pre-completion revenue forecast at Hai Long, lower onshore weather resources, and a reduced thermal forecast.”

Those headwinds, he added, were “partially offset by modestly better offshore wind speeds and a higher FX rate, which benefits EBITDA but has little impact on FCF as it is largely hedged.” Stadler now estimates adjusted free cash flow per share of $0.05, down from $0.09, citing lower expected EBITDA.

Northland, which will release its third-quarter 2025 results after market close on Nov. 12, will host an investor call the following morning. Stadler said commentary may be limited given the company’s investor day set for Nov. 20, but he will be watching for updates on three fronts: “construction progress at Hai Long, where roughly half the turbines (about 37) are installed heading into winter; progress at Baltic Power, where five turbines had been installed as of Q2; and new insights on Northland’s growth outlook and key markets.”

Northland Power is a Canadian-based global power producer focused on renewable and clean energy projects. The company develops, owns, and operates a diversified portfolio that includes offshore and onshore wind, solar, battery storage, and natural gas facilities, as well as regulated utility operations.

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