Fortis Inc (TSE:FTS) had its target price lifted by CIBC from C$48.00 to C$49.00 in a report issued on Tuesday, October 17th.
Other equities research analysts also recently issued reports about the company. TD Securities increased their price target on Fortis from C$48.00 to C$51.00 and gave the stock a buy rating in a research report on Monday, July 31st. Royal Bank Of Canada cut their price target on Fortis from C$52.00 to C$51.00 and set an outperform rating on the stock in a research report on Monday, July 31st. BMO Capital Markets set a C$51.00 price target on Fortis in a research report on Friday, September 15th. Scotiabank reissued an outperform rating and set a C$50.00 target price on shares of Fortis in a research note on Monday, July 31st. Finally, National Bank Financial reissued a sector perform rating and set a C$49.00 target price (up from C$48.00) on shares of Fortis in a research note on Tuesday, October 17th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of C$48.56.
Shares of Fortis (TSE FTS) opened at 47.13 on Tuesday. Fortis has a one year low of $39.58 and a one year high of $47.36. The stock has a market cap of $19.70 billion and a PE ratio of 20.31. The company’s 50-day moving average price is $45.39 and its 200-day moving average price is $45.12.
COPYRIGHT VIOLATION NOTICE: “Fortis Inc (TSE:FTS) Price Target Increased to C$49.00 by Analysts at CIBC” was reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are viewing this piece of content on another publication, it was stolen and republished in violation of international trademark & copyright legislation. The legal version of this piece of content can be read at https://www.dispatchtribunal.com/2017/10/28/fortis-inc-fts-pt-raised-to-c49-00.html.
In related news, insider Earl Ludlow sold 35,056 shares of the firm’s stock in a transaction dated Wednesday, October 18th. The shares were sold at an average price of C$46.45, for a total value of C$1,628,351.20.
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.
Receive News & Ratings for Fortis Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fortis Inc and related companies with MarketBeat.com's FREE daily email newsletter.