Fortis Inc (FTS) PT Lowered to C$45.00
Fortis Inc (TSE:FTS) had its target price dropped by equities researchers at J P Morgan Chase & Co from C$46.00 to C$45.00 in a research report issued on Tuesday. J P Morgan Chase & Co’s price target would indicate a potential upside of 1.35% from the company’s previous close.
Several other brokerages also recently commented on FTS. BMO Capital Markets set a C$51.00 target price on Fortis in a research note on Friday, September 15th. CIBC downgraded Fortis from an “outperform” rating to a “neutral” rating and increased their target price for the company from C$47.00 to C$48.00 in a research note on Thursday, August 3rd. Scotiabank reiterated an “outperform” rating and set a C$50.00 target price on shares of Fortis in a research note on Monday, July 31st. Royal Bank Of Canada cut their target price on Fortis from C$52.00 to C$51.00 and set an “outperform” rating on the stock in a research note on Monday, July 31st. Finally, TD Securities increased their target price on Fortis from C$48.00 to C$51.00 and gave the company a “buy” rating in a research note on Monday, July 31st. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of C$48.00.
Shares of Fortis (TSE:FTS) opened at 44.23 on Tuesday. The stock has a market capitalization of $18.48 billion and a P/E ratio of 19.06. The company’s 50 day moving average price is $45.54 and its 200-day moving average price is $44.71. Fortis has a 12 month low of $39.58 and a 12 month high of $47.06.
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Fortis Company Profile
Fortis Inc is a Canada-based electric and gas utility holding company. The Company’s segments include Regulated Utilities and Non-Regulated Utilities. The Regulated Utilities segment includes Regulated Electric & Gas Utilities-the United States, which consists of ITC Holdings Corp. (ITC Holdings), UNS Energy Corporation and Central Hudson Gas & Electric Corporation (Central Hudson); Gas & Electric Utilities-Canadian, which consists of FortisAlberta Inc (FortisAlberta), FortisBC Energy Inc (FortisBC Energy), FortisBC Inc (FortisBC Electric) and Newfoundland Power Inc (Newfoundland Power); Electric Utilities-Caribbean, which includes its ownership interest in Caribbean Utilities Company, Ltd., Fortis Turks and Caicos, and its investment in Belize Electricity Limited.
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