Fortis (TSE:FTS - Get Free Report) was upgraded by equities researchers at Cibc World Mkts from a "hold" rating to a "strong-buy" rating in a research report issued to clients and investors on Monday,Zacks.com reports.
Other equities research analysts also recently issued reports about the stock. CIBC lifted their target price on shares of Fortis from C$68.00 to C$69.00 and gave the stock a "neutral" rating in a research report on Thursday, April 24th. Scotiabank boosted their price target on shares of Fortis from C$66.00 to C$70.00 and gave the stock a "sector perform" rating in a research report on Thursday, May 8th. Raymond James Financial dropped their price target on shares of Fortis from C$69.00 to C$62.50 and set a "market perform" rating on the stock in a research report on Thursday, April 17th. Jefferies Financial Group lifted their price objective on shares of Fortis from C$67.00 to C$70.00 in a research note on Monday, April 14th. Finally, Royal Bank Of Canada lifted their price objective on shares of Fortis from C$69.00 to C$72.00 and gave the company a "sector perform" rating in a research note on Thursday, May 8th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Fortis currently has an average rating of "Hold" and an average target price of C$65.14.
Check Out Our Latest Research Report on FTS
Fortis Trading Up 1.6%
FTS stock opened at C$65.86 on Monday. The company has a debt-to-equity ratio of 142.31, a quick ratio of 0.36 and a current ratio of 0.74. The company's 50-day simple moving average is C$65.20 and its 200 day simple moving average is C$64.21. Fortis has a 52 week low of C$55.42 and a 52 week high of C$69.24. The company has a market capitalization of C$32.58 billion, a PE ratio of 19.55, a price-to-earnings-growth ratio of 3.01 and a beta of 0.23.
About Fortis
(
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Fortis owns and operates 10 utility transmission and distribution assets in Canada and the United States, serving more than 3.4 million electricity and gas customers. The company has smaller stakes in electricity generation and several Caribbean utilities. ITC operates electric transmission in seven U.S.
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