TD Forecasts Strong Price Appreciation for Fortis (TSE:FTS) Stock

Fortis (TSE:FTS) had its target price increased by research analysts at TD from C$87.00 to C$90.00 in a report released on Wednesday, BayStreet reports. The firm presently has a “buy” rating on the stock. TD‘s price target points to a potential upside of 5.87% from the company’s current price.

Other analysts also recently issued research reports about the company. National Bank Financial upped their target price on Fortis from C$83.00 to C$84.00 and gave the stock a “sector perform” rating in a research note on Wednesday. BMO Capital Markets boosted their price target on Fortis from C$81.00 to C$85.00 and gave the company a “market perform” rating in a report on Wednesday. Canadian Imperial Bank of Commerce lowered their price objective on Fortis from C$82.00 to C$78.00 in a research report on Tuesday, September 22nd. Desjardins set a C$85.00 price objective on Fortis and gave the stock a “buy” rating in a research report on Tuesday, October 27th. Finally, Barclays dropped their price objective on shares of Fortis from C$82.00 to C$76.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 30th. Four investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of C$81.68.

Fortis Stock Performance

TSE FTS traded up C$1.43 on Wednesday, reaching C$85.01. 1,225,924 shares of the company’s stock traded hands, compared to its average volume of 1,598,645. Fortis has a fifty-two week low of C$69.06 and a fifty-two week high of C$85.19. The company has a debt-to-equity ratio of 143.60, a quick ratio of 0.36 and a current ratio of 0.56. The firm has a market cap of C$43.43 billion, a price-to-earnings ratio of 25.00, a P/E/G ratio of 3.01 and a beta of 0.34. The stock has a 50 day moving average price of C$77.08 and a 200-day moving average price of C$77.70.

Fortis (TSE:FTS) last announced its quarterly earnings results on Tuesday, November 3rd. The company reported C$0.92 earnings per share for the quarter. The company had revenue of C$3.12 billion for the quarter. Fortis had a return on equity of 7.43% and a net margin of 14.72%. Equities research analysts predict that Fortis will post 3.34 EPS for the current fiscal year.

About Fortis

Fortis is a diversified leader in the North American regulated electric and gas utility industry with 2025 revenue of $12 billion and total assets of $79 billion as at June 30, 2026. The Corporation’s 9,900 employees serve utility customers in five Canadian provinces, ten U.S. states and the Cayman Islands.