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Gold/Mining/Energy : Canadian Hydro Developers - KHD

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From: Copperfield6/21/2006 9:56:43 PM
   of 27
 
Canadian Hydro Developers "buy" .......................................................

Wednesday, June 21, 2006 3:53:31 AM ET
Canaccord Adams

NEW YORK, June 21 (newratings.com) - Analyst Mark Thompson of Canaccord Adams reiterates his "buy" rating on Canadian Hydro Developers (ticker: KHD). The target price is set to C$6.56.

In a research note published yesterday, the analyst mentions that the company has announced the raising of C$148 million in unsecured corporate bonds, which are likely to be used to pay off the Melancthon-1 construction debt, to fund the Wolfe Island wind farm and for working capital requirements. According to Canaccord Adams, the company has ample cash flows and does not need to pay any significant cash taxes in the near term.
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