Fortis (FTS) Raised to “Outperform” at Raymond James Financial

Fortis (TSE:FTS) was upgraded by Raymond James Financial from a “market perform” rating to an “outperform” rating in a research note issued on Friday.

Other analysts also recently issued research reports about the stock. JPMorgan Chase & Co. lifted their target price on shares of Fortis from C$47.00 to C$48.00 in a report on Thursday, October 19th. CIBC boosted their price target on shares of Fortis from C$48.00 to C$49.00 in a research note on Tuesday, October 17th. BMO Capital Markets dropped their price target on shares of Fortis from C$51.50 to C$49.00 in a research note on Tuesday, February 6th. National Bank Financial downgraded shares of Fortis from a “sector perform market weight” rating to an “underperform market weight” rating in a research note on Sunday, January 28th. Finally, Scotiabank boosted their price target on shares of Fortis from C$50.00 to C$51.00 and gave the stock an “outperform” rating in a research note on Monday, November 6th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of C$48.89.

Shares of Fortis (FTS) opened at C$41.71 on Friday. Fortis has a 1-year low of C$40.57 and a 1-year high of C$48.73. The firm has a market cap of $17,570.00, a P/E ratio of 16.75 and a beta of -0.06.

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About Fortis

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.

Analyst Recommendations for Fortis (TSE:FTS)

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