Q: AQN has not been perforning well recently. Is it a sell or a buy
5i Research Answer:
AQN continues to pay a good yield of ~4.0%, and is expected to show good growth this year, but it is more of a 'recovery' year. AQN is up ~23% on the year, and it trades at a reasonable valuation of 2.2X forward sales, 14.0X forward earnings, and a 1.1X book. We think it is OK for income, but debt is high and its growth is likely to be slow. We would be comfortable holding it, however, for better opportunities, we like FTS or H.