Royal Bank of Canada Increases Canadian Utilities (TSE:CU) Price Target to C$39.00
Canadian Utilities (TSE:CU) had its price objective raised by equities research analysts at Royal Bank of Canada from C$37.00 to C$39.00 in a report released on Wednesday, BayStreet.CA reports. Royal Bank of Canada’s price target indicates a potential upside of 2.12% from the stock’s current price.
A number of other brokerages also recently issued reports on CU. CSFB raised Canadian Utilities from a “neutral” rating to an “outperform” rating and upped their price target for the company from C$40.00 to C$44.00 in a report on Monday. BMO Capital Markets upped their price target on Canadian Utilities from C$37.00 to C$38.00 and gave the company a “market perform” rating in a report on Wednesday, June 26th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Canadian Utilities has an average rating of “Hold” and a consensus price target of C$37.88.
Shares of TSE:CU traded up C$0.12 during midday trading on Wednesday, reaching C$38.19. 225,499 shares of the company’s stock traded hands, compared to its average volume of 295,364. The company has a market cap of $10.41 billion and a price-to-earnings ratio of 11.54. The company has a debt-to-equity ratio of 139.39, a quick ratio of 0.28 and a current ratio of 1.15. Canadian Utilities has a one year low of C$29.12 and a one year high of C$38.63. The stock has a 50 day moving average of C$36.24 and a 200 day moving average of C$36.34.
About Canadian Utilities
Canadian Utilities Limited and its subsidiaries engage in the electricity, pipelines and liquids, and retail energy businesses worldwide. It operates through Electricity, Pipelines & Liquids, and Corporate & Other segments. The Electricity segment provides electricity generation, transmission, distribution; and related infrastructure solutions in Alberta, Ontario, the Yukon, the Northwest Territories, in Canada, as well as in Australia and Mexico.
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