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Research analysts at NBF initiated coverage on shares of Fortis Incorporated (TSE:FTS) in a report released on Monday, Analyst Ratings Net reports. The firm set a “sector perform” rating and a C$33.00 price target on the stock. NBF’s target price suggests a potential upside of 8.87% from the company’s current price.

Shares of Fortis Incorporated (TSE:FTS) traded down 0.10% during mid-day trading on Monday, hitting $30.28. 255,121 shares of the company’s stock traded hands. Fortis Incorporated has a one year low of $29.51 and a one year high of $35.14. The stock’s 50-day moving average is $30.43 and its 200-day moving average is $31.25. The company has a market cap of $6.431 billion and a P/E ratio of 17.52.

A number of other firms have also recently commented on FTS. Analysts at CIBC raised their price target on shares of Fortis Incorporated from C$34.50 to C$35.00 in a research note to investors on Monday. Separately, analysts at Canaccord Genuity cut their price target on shares of Fortis Incorporated from C$34.00 to C$31.00 in a research note to investors on Thursday, December 12th. They now have a “hold” rating on the stock. Finally, analysts at Canaccord Genuity downgraded shares of Fortis Incorporated from a “buy” rating to a “hold” rating in a research note to investors on Monday, November 4th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of C$34.06.

Fortis Inc (TSE:FTS) is a distribution utility in Canada, serving more than 2,000,000 gas and electricity customers.

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