Scotiabank Boosts Fortis (TSE:FTS) Price Target to C$70.00

Fortis (TSE:FTS) had its price objective raised by Scotiabank from C$66.00 to C$70.00 in a research report issued on Thursday,BayStreet.CA reports. The firm currently has a “sector perform” rating on the stock. Scotiabank’s price objective points to a potential upside of 4.62% from the stock’s previous close.

A number of other equities analysts have also weighed in on the stock. Royal Bank of Canada boosted their price objective on shares of Fortis from C$65.00 to C$69.00 in a research report on Tuesday, February 18th. Jefferies Financial Group increased their price target on Fortis from C$67.00 to C$70.00 in a research note on Monday, April 14th. Raymond James lowered their price objective on Fortis from C$69.00 to C$62.50 and set a “market perform” rating for the company in a research report on Thursday, April 17th. CIBC increased their target price on Fortis from C$68.00 to C$69.00 and gave the stock a “neutral” rating in a research report on Thursday, April 24th. Finally, UBS Group lifted their price target on Fortis from C$58.00 to C$63.00 in a report on Friday, March 21st. Two investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of C$64.25.

Fortis Trading Down 0.9 %

Fortis stock opened at C$66.91 on Thursday. The stock has a 50-day moving average price of C$65.48 and a 200 day moving average price of C$62.80. Fortis has a 52 week low of C$52.19 and a 52 week high of C$69.24. The stock has a market cap of C$33.10 billion, a PE ratio of 19.86, a P/E/G ratio of 3.01 and a beta of 0.23. The company has a current ratio of 0.74, a quick ratio of 0.36 and a debt-to-equity ratio of 142.31.

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.