Pattern Energy Confirms Approaches By Third Parties

Pattern Energy Group PEGI confirmed it's responding to a request from the Investment Industry Regulatory Organization of Canada to comment on recent media reports.

Pattern Energy says it has drawn interest from third parties and is responding to inquiries. The company says no agreement or arrangement for any transaction has been reached with a third party. A transaction may or may not be agreed as a result of any such inquiries or discussions.

Bank of America has also reiterated Neutral on Pattern Energy Group and raised the price target from $23 to $23.50.

Pattern Energy Group shares closed Monday at $25.15. The stock has a 52-week high of $25.90 and a 52-week low of $17.23.

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