Fortis (TSE:FTS) had its price target increased by investment analysts at CIBC from C$49.00 to C$50.00 in a research report issued on Thursday. CIBC’s price objective suggests a potential upside of 14.03% from the stock’s previous close.
A number of other analysts have also weighed in on FTS. Scotiabank increased 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 reissued a “sector perform” rating and issued a C$49.00 price objective (up from C$48.00) on shares of Fortis in a research report on Tuesday, October 17th. JPMorgan Chase & Co. dropped their target price on shares of Fortis from C$46.00 to C$45.00 in a research note on Tuesday, September 26th. Royal Bank of Canada upped their target price on shares of Fortis from C$51.00 to C$53.00 and gave the stock an “outperform” rating in a research note on Monday, November 6th. Finally, BMO Capital Markets set a C$51.00 target price on shares of Fortis in a research note on Friday, September 15th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Fortis presently has a consensus rating of “Buy” and a consensus target price of C$49.11.
Fortis (FTS) traded down C$0.45 during trading on Thursday, reaching C$43.85. 905,261 shares of the company were exchanged, compared to its average volume of 830,347. Fortis has a 12 month low of C$40.59 and a 12 month high of C$48.73. The stock has a market cap of $18,400.00, a price-to-earnings ratio of 17.61 and a beta of 0.01.
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Fortis Company Profile
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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