Fortis Inc. (FTS.TO) (TSE:FTS) PT Raised to C$57.00
Fortis Inc. (FTS.TO) (TSE:FTS) had its price target raised by research analysts at JPMorgan Chase & Co. from C$54.00 to C$57.00 in a research report issued to clients and investors on Friday, BayStreet.CA reports. JPMorgan Chase & Co.‘s price objective points to a potential upside of 4.41% from the stock’s current price.
FTS has been the topic of several other reports. Raymond James set a C$58.00 price target on Fortis Inc. (FTS.TO) and gave the stock an “outperform” rating in a research report on Thursday, September 24th. National Bank Financial raised their price target on Fortis Inc. (FTS.TO) from C$60.00 to C$61.00 and gave the stock a “sector perform” rating in a research report on Friday, July 31st. Finally, BMO Capital Markets lifted their target price on Fortis Inc. (FTS.TO) from C$56.00 to C$59.00 in a report on Friday, July 31st. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of C$60.50.
TSE:FTS opened at C$54.59 on Friday. Fortis Inc. has a 12-month low of C$41.52 and a 12-month high of C$59.28. The company has a quick ratio of 0.46, a current ratio of 0.71 and a debt-to-equity ratio of 118.03. The firm has a market capitalization of $25.36 billion and a P/E ratio of 20.53. The stock’s fifty day simple moving average is C$53.47 and its 200-day simple moving average is C$53.05.
Fortis Inc. (FTS.TO) Company Profile
Fortis Inc operates as an electric and gas utility company in Canada, the United States, and the Caribbean countries. It generates, transmits, and distributes electricity to approximately 429,000 retail customers in southeastern Arizona; and 97,000 retail customers in Arizona's Mohave and Santa Cruz counties with an aggregate capacity of 3,143 megawatts (MW), including 59 MW of solar capacity.
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