Royal Bank Of Canada Forecasts Strong Price Appreciation for Emera (TSE:EMA) Stock

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 increased by research analysts at Royal Bank Of Canada from C$69.00 to C$70.00 in a research report issued on Monday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. Royal Bank Of Canada's price target indicates a potential upside of 5.79% from the company's current price.

A number of other research analysts also recently weighed in on the company. TD Securities increased their target price on Emera from C$69.00 to C$74.00 and gave the company a "buy" rating in a report on Monday. Raymond James Financial lowered their price objective on shares of Emera from C$64.00 to C$59.00 and set an "outperform" rating on the stock in a research note on Thursday, April 17th. Desjardins set a C$62.00 price objective on shares of Emera and gave the stock a "hold" rating in a report on Tuesday, May 6th. 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 report on Thursday, April 24th. Finally, BMO Capital Markets lifted their price target on shares of Emera from C$65.00 to C$68.00 in a research note on Monday. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Emera has a consensus rating of "Moderate Buy" and a consensus target price of C$64.33.

Emera Stock Performance

EMA traded up C$0.51 during mid-day trading on Monday, reaching C$66.17. 857,542 shares of the company traded hands, compared to its average volume of 1,277,081. The company's fifty day moving average price is C$62.94 and its 200-day moving average price is C$60.57. The stock has a market capitalization of C$19.40 billion, a P/E ratio of 25.65, a P/E/G ratio of 6.20 and a beta of 0.35. The company has a quick ratio of 0.23, a current ratio of 0.72 and a debt-to-equity ratio of 150.23. Emera has a 52-week low of C$49.06 and a 52-week high of C$67.42.

About Emera

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.