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.
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.
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