Fortis (TSE:FTS) Given New C$90.00 Price Target at Desjardins

Fortis (TSE:FTS) had its target price hoisted by stock analysts at Desjardins from C$85.00 to C$90.00 in a research report issued on Wednesday, BayStreet reports. The brokerage presently has a “buy” rating on the stock. Desjardins‘s target price points to a potential upside of 5.87% from the stock’s current price.

A number of other research analysts have also issued reports on the company. TD lifted their target price on Fortis from C$87.00 to C$90.00 and gave the stock a “buy” rating in a report on Wednesday. Barclays cut their price target on shares of Fortis from C$82.00 to C$76.00 and set an “overweight” rating for the company in a report on Wednesday, September 30th. Canadian Imperial Bank of Commerce reduced their price objective on shares of Fortis from C$82.00 to C$78.00 in a research report on Tuesday, September 22nd. BMO Capital Markets lifted their price objective on shares of Fortis from C$81.00 to C$85.00 and gave the stock a “market perform” rating in a research note on Wednesday. Finally, National Bank Financial lifted their price objective on shares of Fortis from C$83.00 to C$84.00 and gave the stock a “sector perform” rating in a research note on Wednesday. Four analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, Fortis has a consensus rating of “Hold” and an average target price of C$81.68.

Fortis Price Performance

TSE FTS traded up C$1.43 on Wednesday, reaching C$85.01. 1,225,924 shares of the stock traded hands, compared to its average volume of 1,598,645. Fortis has a 12 month low of C$69.06 and a 12 month high of C$85.19. The company has a market cap of C$43.43 billion, a price-to-earnings ratio of 25.00, a P/E/G ratio of 3.01 and a beta of 0.34. The firm’s fifty day simple moving average is C$77.08 and its 200 day simple moving average is C$77.70. The company has a quick ratio of 0.36, a current ratio of 0.56 and a debt-to-equity ratio of 143.60.

Fortis (TSE:FTS) last posted its quarterly earnings data on Tuesday, November 3rd. The company reported C$0.92 EPS for the quarter. Fortis had a return on equity of 7.43% and a net margin of 14.72%. The company had revenue of C$3.12 billion for the quarter. As a group, research analysts predict that Fortis will post 3.34 EPS for the current fiscal year.

About Fortis

Fortis is a diversified leader in the North American regulated electric and gas utility industry with 2025 revenue of $12 billion and total assets of $79 billion as at June 30, 2026. The Corporation’s 9,900 employees serve utility customers in five Canadian provinces, ten U.S. states and the Cayman Islands.