Analysts have been eager to weigh in on the Utilities sector with new ratings on American Electric Power (AEP), Azure Power Global (AZRE) and Fortis (FTS).
American Electric Power (AEP)
RBC Capital analyst Shelby Tucker maintained a Buy rating on American Electric Power yesterday and set a price target of $97.00. The company’s shares closed last Tuesday at $87.20.
According to TipRanks.com, Tucker is a 5-star analyst with an average return of 9.0% and a 71.4% success rate. Tucker covers the Utilities sector, focusing on stocks such as Public Service Enterprise, Nextera Energy Partners, and Pinnacle West Capital.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for American Electric Power with a $97.11 average price target, an 11.2% upside from current levels. In a report issued on April 15, Mizuho Securities also maintained a Buy rating on the stock with a $91.00 price target.
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Azure Power Global (AZRE)
In a report issued on April 26, Elvira Scotto from RBC Capital maintained a Buy rating on Azure Power Global, with a price target of $42.00. The company’s shares closed last Tuesday at $24.99.
According to TipRanks.com, Scotto is a 5-star analyst with an average return of 20.7% and a 63.7% success rate. Scotto covers the Industrial Goods sector, focusing on stocks such as Cheniere Energy Partners, Dcp Midstream Partners, and Crossamerica Partners.
Currently, the analyst consensus on Azure Power Global is a Moderate Buy with an average price target of $43.50.
Fortis (FTS)
RBC Capital analyst Maurice Choy maintained a Hold rating on Fortis on April 26 and set a price target of C$59.00. The company’s shares closed last Tuesday at $44.26, close to its 52-week high of $44.96.
According to TipRanks.com, Choy is ranked #1676 out of 7481 analysts.
Fortis has an analyst consensus of Moderate Buy, with a price target consensus of $48.38.
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