CIBC Boosts Fortis (FTS) Price Target to C$50.00

Fortis (TSE:FTS) had its price objective lifted by equities researchers at CIBC from C$49.00 to C$50.00 in a research report issued on Thursday. CIBC’s target price would suggest a potential upside of 14.81% from the company’s current price.

Other equities research analysts have also recently issued reports about the stock. JPMorgan Chase & Co. raised their price objective on shares of Fortis from C$47.00 to C$48.00 in a research report on Thursday, October 19th. BMO Capital Markets set a C$51.00 price objective on shares of Fortis in a research report on Friday, September 15th. Scotiabank raised their price objective on shares of Fortis from C$50.00 to C$51.00 and gave the stock an “outperform” rating in a research report on Monday, November 6th. National Bank Financial restated a “sector perform” rating and set a C$49.00 price objective (up from C$48.00) on shares of Fortis in a research report on Tuesday, October 17th. Finally, Royal Bank of Canada raised their price objective on shares of Fortis from C$51.00 to C$53.00 and gave the stock an “outperform” rating in a research report on Monday, November 6th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Fortis has a consensus rating of “Buy” and an average price target of C$49.11.

Shares of Fortis (FTS) opened at C$43.55 on Thursday. Fortis has a 12-month low of C$40.73 and a 12-month high of C$48.73. The stock has a market cap of $18,340.00, a PE ratio of 17.49 and a beta of 0.01.

In other Fortis news, insider Earl Ludlow sold 35,056 shares of Fortis stock in a transaction dated Wednesday, October 18th. The shares were sold at an average price of C$46.45, for a total transaction of C$1,628,351.20. Also, Director Jamie Roberts sold 1,569 shares of Fortis stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of C$48.11, for a total transaction of C$75,484.59.

WARNING: “CIBC Boosts Fortis (FTS) Price Target to C$50.00” was published by Community Financial News and is owned by of Community Financial News. If you are accessing this news story on another website, it was copied illegally and republished in violation of U.S. and international trademark and copyright law. The correct version of this news story can be accessed at https://www.com-unik.info/2018/01/13/cibc-boosts-fortis-fts-price-target-to-c50-00.html.

About Fortis

Fortis Inc is a Canada-based electric and gas utility holding company. The Company’s segments include Regulated Utilities and Non-Regulated Utilities. The Regulated Utilities segment includes Regulated Electric & Gas Utilities-the United States, which consists of ITC Holdings Corp. (ITC Holdings), UNS Energy Corporation and Central Hudson Gas & Electric Corporation (Central Hudson); Gas & Electric Utilities-Canadian, which consists of FortisAlberta Inc (FortisAlberta), FortisBC Energy Inc (FortisBC Energy), FortisBC Inc (FortisBC Electric) and Newfoundland Power Inc (Newfoundland Power); Electric Utilities-Caribbean, which includes its ownership interest in Caribbean Utilities Company, Ltd., Fortis Turks and Caicos, and its investment in Belize Electricity Limited.

Analyst Recommendations for Fortis (TSE:FTS)

Receive News & Ratings for Fortis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fortis and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit