Wells Fargo Maintains Equal-Weight on Fortis, Raises Price Target to C$59
Portfolio Pulse from Benzinga Newsdesk
Wells Fargo analyst Neil Kalton has maintained an Equal-Weight rating on Fortis, while raising the price target from C$56 to C$59.
May 08, 2024 | 2:37 pm
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Wells Fargo maintains an Equal-Weight rating on Fortis and raises the price target from C$56 to C$59.
The increase in price target by Wells Fargo suggests a positive outlook on Fortis's future performance, potentially leading to a short-term increase in its stock price. The Equal-Weight rating indicates that the stock is expected to perform in line with the market or sector, but the raised target price signals analyst confidence in the company's potential to reach higher valuation levels.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100