CIBC Issues Positive Forecast for Hydro One (TSE:H) Stock Price

Key Points

• CIBC has raised its target price for Hydro One stock from C$52.00 to C$54.00, indicating a potential upside of 2.74% from the stock's previous close.
• Hydro One has received ratings from various analysts, with one Buy rating and seven Hold ratings, contributing to a consensus target price of C$51.30.
• As of Tuesday, Hydro One's stock was trading at C$52.56 and it has a market capitalization of C$31.52 billion.

Hydro One (TSE:H - Get Free Report) had its target price lifted by equities research analysts at CIBC from C$52.00 to C$54.00 in a report released on Tuesday,BayStreet.CA reports. CIBC's price objective would suggest a potential upside of 2.74% from the stock's previous close.

H has been the subject of a number of other reports. Raymond James Financial boosted their target price on shares of Hydro One from C$48.00 to C$49.00 and gave the company a "market perform" rating in a research note on Thursday, August 14th. National Bankshares boosted their price objective on shares of Hydro One from C$47.00 to C$48.00 and gave the company a "sector perform" rating in a research report on Thursday, August 14th. TD Securities boosted their price objective on shares of Hydro One from C$52.00 to C$54.00 and gave the company a "hold" rating in a research report on Thursday, August 14th. Finally, Desjardins set a C$58.00 price objective on shares of Hydro One and gave the company a "buy" rating in a research report on Tuesday, August 12th. One analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, Hydro One presently has a consensus rating of "Hold" and a consensus target price of C$51.30.

Hydro One Stock Performance

H traded up C$0.10 during mid-day trading on Tuesday, reaching C$52.56. 187,320 shares of the company traded hands, compared to its average volume of 1,011,080. The stock has a market capitalization of C$31.52 billion, a P/E ratio of 25.15, a P/E/G ratio of 3.17 and a beta of 0.30. The company has a quick ratio of 0.30, a current ratio of 0.58 and a debt-to-equity ratio of 140.53. The company's fifty day moving average price is C$49.97 and its 200-day moving average price is C$49.83. Hydro One has a 52-week low of C$42.52 and a 52-week high of C$53.98.

Hydro One Company Profile

Hydro One operates regulated transmission and distribution assets in Ontario. The area's largest electricity provider serves nearly 1.5 million customers. Transmission accounts for roughly 60% of the company's rate base, with distribution accounting for the remainder. Hydro One operates a small telecom business, Acronym Solutions, with annual revenue contributing less than 1% to consolidated results.

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