Canadian Utilities PT Raised to C$44.00 (CU)
Equities researchers at Scotiabank increased their price objective on shares of Canadian Utilities (TSE:CU) from C$42.00 to C$44.00 in a research report issued on Thursday, Analyst RN reports. The firm currently has an “outperform” rating on the stock. Scotiabank’s price target points to a potential upside of 14.58% from the company’s current price.
Shares of Canadian Utilities (TSE:CU) traded up 0.23% during mid-day trading on Thursday, hitting $38.40. The stock had a trading volume of 268,851 shares. Canadian Utilities has a 52-week low of $31.555 and a 52-week high of $41.68. The stock’s 50-day moving average is $36.26 and its 200-day moving average is $36.99. The company has a market cap of $9.947 billion and a P/E ratio of 17.15.
CU has been the subject of a number of other recent research reports. Analysts at CIBC initiated coverage on shares of Canadian Utilities in a research note to investors on Wednesday. They set an “outperform” rating and a C$41.00 price target on the stock. Analysts at National Bank Financial reiterated a “sector perform” rating on shares of Canadian Utilities in a research note to investors on Thursday, August 22nd. They now have a C$40.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Canadian Utilities has an average rating of “Buy” and an average price target of C$42.17.
Canadian Utilities Limited is a holding company. The Company operates in four segments: Utilities includes the regulated distribution of natural gas by ATCO Gas, , and the regulated distribution and transmission of electricity by ATCO Electric and its subsidiaries, Northland Utilities, Northland Utilities and Yukon Electrical; Energy includes the non-regulated supply of electricity and cogeneration steam by ATCO Power, and the non-regulated natural gas gathering, processing, storage, and natural gas liquids extraction by ATCO Midstream; ATCO Australia includes the non-regulated supply of electricity and cogeneration steam by ATCO Power Australia, and as of July 29, 2011, the regulated distribution of natural gas by ATCO Gas Australia and the development, operation and support of information systems and technologies by ATCO I-Tek Australia, and Corporate and Other includes its investment in ATCO Structures & Logistics.
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