Fortis (TSE:FTS) Price Target Increased to C$62.00 by Analysts at CSFB

Fortis (TSE:FTS – Get Rating) had its target price increased by CSFB from C$61.00 to C$62.00 in a report issued on Wednesday, BayStreet.CA reports. CSFB’s price target indicates a potential upside of 8.37% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. Wells Fargo & Company upgraded Fortis to an “equal weight” rating and set a C$59.00 target price on the stock in a research note on Wednesday, December 14th. Scotiabank raised their target price on Fortis from C$57.00 to C$58.00 in a research note on Monday, January 23rd. National Bankshares raised their price target on Fortis from C$55.00 to C$56.00 and gave the company a “sector perform” rating in a report on Monday, February 13th. CIBC raised their price target on Fortis from C$55.00 to C$57.00 in a report on Tuesday, January 10th. Finally, UBS Group lowered their price target on Fortis from C$53.00 to C$51.00 in a report on Monday, March 6th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of C$58.29.

Fortis Stock Performance

FTS stock opened at C$57.21 on Wednesday. The company has a debt-to-equity ratio of 127.16, a quick ratio of 0.36 and a current ratio of 0.64. The stock has a market capitalization of C$27.59 billion, a price-to-earnings ratio of 20.80, a PEG ratio of 3.65 and a beta of 0.17. Fortis has a 1 year low of C$48.45 and a 1 year high of C$65.26. The stock’s fifty day moving average is C$55.09 and its two-hundred day moving average is C$54.57.

About Fortis

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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 438,000 retail customers in southeastern Arizona; and 100,000 retail customers in Arizona's Mohave and Santa Cruz counties with an aggregate capacity of 3,485 megawatts (MW), including 53 MW of solar capacity and 252 MV of wind capacity.