Fortis (TSE:FTS) Stock Price Expected to Rise, Desjardins Analyst Says

Key Points

• Desjardins raised Fortis’s price target from C$85 to C$90 and maintained a “buy” rating, implying 5.87% upside from the price at the time of the report.
• Analyst views were mixed: four analysts rated the stock “buy” and six “hold,” with a consensus rating of “hold” and an average target of C$81.68.
• Fortis shares rose C$1.43 to C$85.01 on Wednesday, near their 12-month high of C$85.19.

Fortis (TSE:FTS - Get Free Report) had its target price boosted by investment analysts at Desjardins from C$85.00 to C$90.00 in a research report issued to clients and investors on Wednesday, BayStreet reports. The brokerage presently has a "buy" rating on the stock. Desjardins's price objective would suggest a potential upside of 5.87% from the stock's current price.

Several other equities research analysts have also commented on the stock. National Bank Financial raised their price target on shares of Fortis from C$83.00 to C$84.00 and gave the company a "sector perform" rating in a research note on Wednesday. BMO Capital Markets boosted their price objective on Fortis from C$81.00 to C$85.00 and gave the stock a "market perform" rating in a research report on Wednesday. TD increased their price objective on Fortis from C$87.00 to C$90.00 and gave the stock a "buy" rating in a report on Wednesday. Barclays lowered their target price on Fortis from C$82.00 to C$76.00 and set an "overweight" rating on the stock in a research report on Wednesday, September 30th. Finally, Canadian Imperial Bank of Commerce lowered their target price on Fortis from C$82.00 to C$78.00 in a research report on Tuesday, September 22nd. Four research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of C$81.68.

Fortis Stock Performance

Shares of FTS stock traded up C$1.43 during trading hours on Wednesday, reaching C$85.01. The stock had a trading volume of 1,225,924 shares, compared to its average volume of 1,598,645. The company has a debt-to-equity ratio of 143.60, a current ratio of 0.56 and a quick ratio of 0.36. Fortis has a twelve month low of C$69.06 and a twelve month high of C$85.19. The firm has a 50-day simple moving average of C$77.08 and a 200-day simple moving average of C$77.70. The firm has a market capitalization of C$43.43 billion, a PE ratio of 25.00, a price-to-earnings-growth ratio of 3.01 and a beta of 0.34.

Fortis (TSE:FTS - Get Free Report) last issued its quarterly earnings data on Tuesday, November 3rd. The company reported C$0.92 earnings per share for the quarter. The firm had revenue of C$3.12 billion for the quarter. Fortis had a net margin of 14.72% and a return on equity of 7.43%. As a group, equities analysts forecast that Fortis will post 3.34 earnings per share for the current year.

Fortis Company Profile

Fortis is a diversified leader in the North American regulated electric and gas utility industry with 2025 revenue of $12 billion and total assets of $79 billion as at June 30, 2026. The Corporation's 9,900 employees serve utility customers in five Canadian provinces, ten U.S. states and the Cayman Islands.

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