BofA raised the firm’s price target on Fortis (FTS) to C$64 from C$61 and keeps an Underperform rating on the shares. The firm, which revised its price target to reflect updated valuation multiples and a more conservative outlook for the regulatory environment in Arizona and New York, expects Fortis to report Q2 operating EPS of C$0.68, slightly below consensus of C$0.70 per share.
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Read More on FTS:
- Fortis upgraded to Outperformer from Neutral at CIBC
- Fortis Inc. Schedules Q2 2025 Results Teleconference for August 1
- Fortis Inc.: Hold Rating Due to Fair Valuation Amid Strategic Growth Plans and Stable Operations
- Fortis price target lowered to $45 from $49 at BofA
- Fortis initiated with a Buy at TD Securities