BMO Capital Remains a Buy on Fortis Inc. (FTS)

By Austin Angelo

The Utilities sector company, Fortis Inc. (FTSResearch Report), has received a rating update from a Wall Street analyst on April 12. Analyst Benjamin Pham from BMO Capital rated Fortis Inc. (FTSResearch Report) a Buy on April 12, setting a C$50 price target.

According to TipRanks.com, Pham is a 5-star analyst with an average return of 10.7% and a 82.5% success rate. Pham covers the Utilities sector, focusing on stocks such as Brookfield Renewable Partners L.P., TerraForm Power, and Pattern Energy.

Fortis Inc. has an analyst consensus of Strong Buy, with a price target consensus of C$51, implying a 2.4% upside from current levels. In a report issued on April 2, CIBC also reiterated a Buy rating on the stock with a C$52 price target.

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The company has a one-year high of C$50.47 and a one-year low of C$40.21. Currently, Fortis Inc. has an average volume of 1.15M.

Fortis, Inc. is an international electric and gas utility holding company. It operates through the following business segments: Regulated Utilities and Non-Regulated.

The company’s shares closed on Tuesday at C$49.82, close to its 52-week high of C$50.47.