Fortis (TSE:FTS) Price Target Raised to C$68.00

Fortis (TSE:FTS) had its target price upped by CIBC from C$65.00 to C$68.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. CIBC’s price target indicates a potential upside of 3.49% from the stock’s current price.

A number of other analysts also recently commented on FTS. Royal Bank of Canada boosted their price objective on shares of Fortis from C$65.00 to C$69.00 in a report on Tuesday, February 18th. Scotiabank upped their price target on Fortis from C$63.00 to C$66.00 and gave the stock a “sector perform” rating in a report on Thursday, February 13th. UBS Group lifted their price objective on Fortis from C$58.00 to C$63.00 in a report on Friday, March 21st. Raymond James boosted their target price on Fortis from C$61.00 to C$62.50 in a research report on Tuesday, February 18th. Finally, Jefferies Financial Group set a C$67.00 price target on Fortis and gave the company a “hold” rating in a research report on Thursday, February 13th. Two equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of C$62.77.

Fortis Price Performance

Shares of TSE FTS opened at C$65.71 on Friday. The company has a debt-to-equity ratio of 142.31, a quick ratio of 0.36 and a current ratio of 0.74. Fortis has a one year low of C$51.02 and a one year high of C$67.52. The firm has a market capitalization of C$32.51 billion, a P/E ratio of 19.50, a PEG ratio of 3.01 and a beta of 0.23. The company’s fifty day moving average is C$63.51 and its two-hundred day moving average is C$61.81.

Fortis Company Profile

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.