Emera (TSE:EMA) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

Key Points

• Royal Bank of Canada raised its price target for Emera from C$69.00 to C$70.00, indicating a potential upside of 6.45% from the stock's previous close.
• Several brokerages have varying ratings and price targets for Emera, with CIBC raising its target to C$64.00 and TD Securities increasing it to C$74.00.
• Despite the positive rating changes, Emera's stock price fell by 1.7% during trading, closing at C$65.76.

Emera (TSE:EMA - Get Free Report) had its price objective lifted by research analysts at Royal Bank Of Canada from C$69.00 to C$70.00 in a report released on Monday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the stock. Royal Bank Of Canada's price objective would indicate a potential upside of 7.20% from the company's previous close.

Several other equities research analysts also recently issued reports on the stock. Desjardins set a C$62.00 price objective on shares of Emera and gave the stock a "hold" rating in a research note on Tuesday, May 6th. Raymond James Financial decreased their price objective on shares of Emera from C$64.00 to C$59.00 and set an "outperform" rating for the company in a research note on Thursday, April 17th. TD Securities boosted their price objective on shares of Emera from C$69.00 to C$74.00 and gave the stock a "buy" rating in a research note on Monday. BMO Capital Markets upped their target price on shares of Emera from C$65.00 to C$68.00 in a research note on Monday. Finally, CIBC upped their target price on shares of Emera from C$63.00 to C$64.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of C$64.33.

Emera Trading Up 0.8%

EMA traded up C$0.52 during trading on Monday, hitting C$65.30. 100,882 shares of the company's stock were exchanged, compared to its average volume of 1,272,355. The company has a current ratio of 0.72, a quick ratio of 0.23 and a debt-to-equity ratio of 150.23. Emera has a 1 year low of C$49.06 and a 1 year high of C$67.42. The stock has a 50 day moving average price of C$62.73 and a 200 day moving average price of C$60.42. The firm has a market cap of C$19.15 billion, a P/E ratio of 25.31, a price-to-earnings-growth ratio of 6.20 and a beta of 0.35.

Emera Company Profile

Emera is a geographically diverse energy and services company investing in electricity generation, transmission, and distribution as well as gas transmission and utility energy services. Emera has operations throughout North America and the Caribbean countries.