Canadian Imperial Bank of Commerce Forecasts Strong Price Appreciation for Canadian Utilities (TSE:CU) Stock

Canadian Utilities (TSE:CU) had its price target upped by stock analysts at Canadian Imperial Bank of Commerce from C$45.00 to C$47.00 in a research report issued on Friday,BayStreet.CA reports. The firm presently has a “neutral” rating on the stock. Canadian Imperial Bank of Commerce’s price target indicates a potential downside of 1.20% from the company’s current price.

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

Canadian Utilities Stock Performance

Shares of TSE CU opened at C$47.57 on Friday. The business’s 50-day simple moving average is C$44.19 and its 200-day simple moving average is C$41.30. The company has a debt-to-equity ratio of 158.34, a quick ratio of 1.30 and a current ratio of 1.63. Canadian Utilities has a 52 week low of C$34.10 and a 52 week high of C$48.36. The firm has a market cap of C$12.94 billion, a price-to-earnings ratio of 24.27, a P/E/G 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.