Canadian Utilities (TSE:CU) Price Target Raised to C$47.00 at Canadian Imperial Bank of Commerce

Canadian Utilities (TSE:CU) had its price target boosted by stock analysts at Canadian Imperial Bank of Commerce from C$45.00 to C$47.00 in a research note issued on Friday,BayStreet.CA reports. The brokerage currently has a “neutral” rating on the stock. Canadian Imperial Bank of Commerce’s price objective would indicate a potential downside of 1.43% from the company’s previous close.

Several other research analysts have also commented on the stock. TD Securities lifted their price objective on shares of Canadian Utilities from C$40.00 to C$41.00 and gave the stock a “hold” rating in a research note on Tuesday, November 11th. Scotiabank upped their target price on Canadian Utilities from C$40.00 to C$43.00 in a report on Tuesday, December 16th. BMO Capital Markets increased their price target on Canadian Utilities from C$42.00 to C$44.00 in a research report on Monday, November 10th. National Bank Financial lifted their price objective on Canadian Utilities from C$43.00 to C$45.00 and gave the company a “sector perform” rating in a report on Friday. Finally, Royal Bank Of Canada upped their price objective on shares of Canadian Utilities from C$43.00 to C$49.00 and gave the stock a “sector perform” rating in a research note on Friday. Four analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of C$44.83.

Canadian Utilities Price Performance

Shares of TSE:CU traded up C$0.91 on Friday, reaching C$47.68. The company’s stock had a trading volume of 698,538 shares, compared to its average volume of 557,869. The company has a 50-day simple moving average of C$44.08 and a 200 day simple moving average of C$41.22. Canadian Utilities has a 52-week low of C$34.10 and a 52-week high of C$48.36. The company has a debt-to-equity ratio of 158.34, a quick ratio of 1.30 and a current ratio of 1.63. The company has a market cap of C$12.96 billion, a P/E ratio of 24.33, a PEG ratio of 2.38 and a beta of 0.61.

Canadian Utilities Company Profile

Canadian Utilities Ltd, a subsidiary of holding company Atco, offers gas and electricity services. The company’s main divisions include electricity (generation, transmission, and distribution), pipelines & liquid (natural gas and water), and Retail Energy. Headquartered in Calgary, Alberta, the firm mainly operates in Canada and Australia, along with some operations in the United States and Mexico. Canadian Utilities launched a large venture called Atco Energy, which provides low-cost and sustainable energy solutions for Alberta.