BofA analyst Ross Fowler lowered the firm’s price target on Fortis (FTS) to $45 from $49 and keeps an Underperform rating on the shares. The firm is updating its price target for Fortis to reflect updated peer group P/E multiples and valuation metrics, the analyst tells investors.
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Read More on FTS:
- Fortis initiated with a Buy at TD Securities
- Fortis Inc. Announces Preference Share Conversion Results
- Cautious Outlook on Fortis: Sell Rating Amid Premium Valuation and FX Challenges
- Fortis Inc. Shareholders Approve Key Governance Decisions at Annual Meeting
- Fortis price target raised to C$72 from C$69 at RBC Capital