Fortis (FTS) Receives a Hold from RBC Capital
RBC Capital analyst Maurice Choy maintained a Hold rating on Fortis yesterday and set a price target of C$80.00.
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According to TipRanks, Choy is a 5-star analyst with an average return of 16.4% and a 78.80% success rate. Choy covers the Utilities sector, focusing on stocks such as Brookfield Infrastructure, TransAlta, and Fortis.
In addition to RBC Capital, Fortis also received a Hold from BMO Capital’s Benjamin Pham in a report issued on April 17. However, on April 24, J.P. Morgan maintained a Sell rating on Fortis (NYSE: FTS).
Based on Fortis’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of C$3.08 billion and a net profit of C$444 million. In comparison, last year the company earned a revenue of C$2.95 billion and had a net profit of C$415 million
Based on the recent corporate insider activity of 88 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of FTS in relation to earlier this year.
Read More on FTS:
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- Fortis price target raised to C$81 from C$80 at CIBC
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