Raymond James Sticks to Their Hold Rating for Fortis (FTS)

By Carrie Williams

In a report released today, David Quezada from Raymond James maintained a Hold rating on Fortis (FTSResearch Report), with a price target of C$55.00. The company’s shares closed last Monday at $39.38.

According to TipRanks.com, Quezada is a 4-star analyst with an average return of 8.7% and a 71.4% success rate. Quezada covers the Utilities sector, focusing on stocks such as Algonquin Power & Utilities, Northland Power, and Emera.

Fortis has an analyst consensus of Moderate Buy, with a price target consensus of $50.87, a 27.7% upside from current levels. In a report issued on November 21, BMO Capital also maintained a Hold rating on the stock with a C$55.00 price target.

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Fortis’ market cap is currently $17.44K and has a P/E ratio of 14.63. The company has a Price to Book ratio of 1.47.

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