Emera: Solid Fundamentals but Limited Near-Term Upside Keep Rating at Hold

In a report released today, Ross Fowler from Bank of America Securities reiterated a Hold rating on Emera, with a price target of C$74.00.

Ross Fowler has given his Hold rating due to a combination of factors, including Q1 2026 earnings that are modestly ahead of expectations but constrained by share dilution, higher interest costs, and currency effects despite favorable weather and new rates at Peoples Gas. He sees these headwinds offsetting last year’s unusually strong Emera Energy results, leaving near‑term upside limited relative to the current share price.

Fowler’s medium‑term outlook aligns with Emera’s 5–7% long‑term EPS growth target, and he lifts his price objective slightly to C$74, a level only marginally above where the stock is trading. While potential data‑center related load growth and balance sheet improvements from the NMGC sale and NSPI securitization could provide upside, these are not yet embedded in his base case, leading him to maintain a neutral stance for now.

Fowler covers the Utilities sector, focusing on stocks such as Eversource Energy, Emera, and Black Hills. According to TipRanks, Fowler has an average return of 7.6% and a 67.76% success rate on recommended stocks.

In another report released on March 26, TipRanks – Google also reiterated a Hold rating on the stock with a C$77.00 price target.