Canadian Utilities (CU) Lifted to Buy at TD Securities
TD Securities upgraded shares of Canadian Utilities (TSE:CU) from a hold rating to a buy rating in a research note issued to investors on Friday. The brokerage currently has C$35.00 target price on the stock.
A number of other research firms have also issued reports on CU. National Bank Financial reduced their price target on Canadian Utilities from C$38.00 to C$36.00 and set a sector perform rating on the stock in a research report on Monday, July 30th. BMO Capital Markets reduced their price target on Canadian Utilities from C$37.00 to C$35.00 in a research report on Tuesday, September 11th. Industrial Alliance Securities reduced their price target on Canadian Utilities from C$36.00 to C$32.00 in a research report on Tuesday, October 9th. CSFB raised Canadian Utilities from a neutral rating to an outperform rating and reduced their price target for the company from C$38.00 to C$36.00 in a research report on Wednesday, October 24th. Finally, CIBC reduced their price target on Canadian Utilities from C$34.00 to C$32.00 in a research report on Wednesday, October 24th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of C$34.43.
CU opened at C$31.02 on Friday. Canadian Utilities has a 12-month low of C$29.12 and a 12-month high of C$39.73.
In other Canadian Utilities news, Director M. Dean Reeve sold 957 shares of the stock in a transaction dated Thursday, September 20th. The stock was sold at an average price of C$31.60, for a total value of C$30,241.20. Insiders sold a total of 1,672 shares of company stock worth $51,733 in the last ninety days.
Canadian Utilities Company Profile
Canadian Utilities Limited engages in the electricity, and pipelines and liquids businesses. It operates through Electricity, Pipelines & Liquids, and Corporate & Other segments. The Electricity segment engages in the generation, transmission, and distribution of electricity using coal, natural gas, hydroelectric, and wind resources, as well as related infrastructure development in Western Canada, Ontario, the Yukon, the Northwest Territories, Australia, and Mexico.
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