In a new note to investors today, an analyst has provided a rating update for the Utilities sector company, Fortis Inc. (FTS). Analyst Benjamin Pham from BMO Capital remains bullish on the stock and has a C$49 price target.
According to TipRanks.com, Pham is a 5-star analyst with an average return of 7.9% and a 77.5% success rate. Pham covers the Utilities sector, focusing on stocks such as Brookfield Renewable Partners L.P., Pattern Energy, and Fortis Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Fortis Inc. with a C$50.33 average price target, implying an 8.8% upside from current levels. In a report released today, RBC Capital also maintained a Buy rating on the stock with a C$53 price target.
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Fortis Inc.’s market cap is currently C$19.87B and has a P/E ratio of 20.4. The company has a Price to Book ratio of 1.38.
Fortis, Inc. is an international electric and gas utility holding company. It operates through the following business segments: Regulated Utilities-United States, Regulated Utilities-Canadian, Regulated Utilities-Caribbean, Non-Regulated-Energy Infrastructure, and Corporate & Other.
The company’s shares closed on Tuesday at C$46.24.
