Fortis Inc (TSE:FTS) has been assigned a C$51.00 target price by BMO Capital Markets in a research note issued on Friday, September 15th. BMO Capital Markets’ target price points to a potential upside of 13.54% from the company’s previous close.
Several other research firms have also issued reports on FTS. CIBC lowered Fortis from an “outperform” rating to a “neutral” rating and lifted their target price for the company from C$47.00 to C$48.00 in a research report on Thursday, August 3rd. Scotiabank reaffirmed an “outperform” rating and set a C$50.00 target price on shares of Fortis in a research report on Monday, July 31st. TD Securities lifted their target price on Fortis from C$48.00 to C$51.00 and gave the company a “buy” rating in a research report on Monday, July 31st. Royal Bank Of Canada decreased their target price on Fortis from C$52.00 to C$51.00 and set an “outperform” rating for the company in a research report on Monday, July 31st. Finally, Barclays PLC lifted their price target on Fortis from C$37.00 to C$40.00 and gave the company an “overweight” rating in a report on Friday, July 21st. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of C$47.88.
Fortis (TSE FTS) opened at 44.92 on Friday. The firm has a market capitalization of $18.77 billion and a P/E ratio of 19.35. The firm has a 50 day moving average of $45.54 and a 200 day moving average of $44.71. Fortis has a 12-month low of $39.58 and a 12-month high of $47.06.
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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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