CIBC Boosts Canadian Utilities (TSE:CU) Price Target to C$43.00

Canadian Utilities (TSE:CU) had its price objective hoisted by equities researchers at CIBC from C$42.00 to C$43.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. CIBC’s price target would indicate a potential upside of 2.55% from the company’s previous close.

Canadian Utilities Trading Up 2.1%

Shares of TSE:CU traded up C$0.85 during mid-day trading on Monday, reaching C$41.93. The stock had a trading volume of 270,576 shares, compared to its average volume of 523,187. The firm has a 50 day simple moving average of C$38.81 and a two-hundred day simple moving average of C$38.29. Canadian Utilities has a twelve month low of C$33.19 and a twelve month high of C$42.19. The firm has a market cap of C$11.40 billion, a PE ratio of 25.57, a price-to-earnings-growth ratio of 2.38 and a beta of 0.47. The company has a current ratio of 1.63, a quick ratio of 1.30 and a debt-to-equity ratio of 158.34.

About Canadian Utilities

Canadian Utilities Ltd, a subsidiary of holding company Atco, offers gas and electricity services. The company’s main divisions include electricity (generation, transmission, and distribution), pipelines & liquid (natural gas and water), and Retail Energy. Headquartered in Calgary, Alberta, the firm mainly operates in Canada and Australia, along with some operations in the United States and Mexico.