EnerCare Receives a Buy from Scotiabank

By Ryan Adsit

EnerCare (TSX: ECI), the Financial sector company, has received a rating update from a Wall Street analyst on August 8. The company received a Buy on August 8 from Scotiabank’s analyst George Doumet, with a C$24 price target.

Doumet has an average return of 6.0% when recommending EnerCare.

According to TipRanks.com, Doumet is ranked #619 out of 4628 analysts.

Currently, the analyst consensus on EnerCare is Moderate Buy and the average price target is C$23.67, representing a 15.4% upside.

In a report issued on August 4, RBC Capital also reiterated a Buy rating on the stock with a C$26 price target.

EnerCare’s market cap is currently C$2.18B and has a P/E ratio of 41.4.

EnerCare, Inc. engages in the provision of heating ventilation and air-conditioning services. It operates through the following segments: Home Services, Sub-metering, and Corporate. The Home Services segment rent and leases out water heaters, heating ventilation and air-conditioning systems.

The company’s shares closed on Thursday at C$20.52.