Algonquin Power & Utilities (AQN.TO) maintained its stock ratings and price targets at RBC Capital Markets and National Bank of Canada, according to notes published Tuesday.

The company kept its Sector Perform rating and US$6 price target at RBC while retaining its Outperform rating and US$6.75 price target at National Bank.

This comes after AQN announced the resignation of CFO Darren Myers, who plans to pursue another opportunity.

RBC believes the announcement will have a neutral impact on the shares "as the company completes is transition into a pure-play regulated utility." In the near-term, RBC expects investors to focus on AQN's 2025 guidance and multi-year outlook when it reports Q4 2024 results in early March 2025.

But National Bank disagreed, saying the news was a surprise to it, that leadership changes introduce uncertainty and it expects the street to react poorly. "However, weakness in the stock may present a buying opportunity," the bank said. National believes management changes will not impact AQN's progress on simplifying and optimizing its business.

National Bank said the price target was based on a long-term DCF with a cost of equity of 7.75%.

Algonquin was down $0.02 at $6.20 at last look on the TSX,