RBC Capital Markets lowered its price target on Green Impact Partners Inc. (GIP.V) to $8 from $9.
Analyst Nelson Ng maintained an Outperform rating on shares of the Calgary-based natural gas distribution company following its quarterly results.
"GIP announced weak Q3/24 results, Future Energy Park (FEP) financial close delayed to 2025, and GIP is working through warrantied mechanical issues at the Colorado RNG facility," Ng said in a note to clients.
"We believe the outlook for the company is binary on whether FEP achieves financial close (and project economics)," the analyst said.
"We are maintaining our Outperform rating, but lowering our price target... to reflect weaker-than-expected results and the extended timeline for FEP to achieve financial close."
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