CIBC Maintains Neutral on Fortis, Raises Price Target to C$63
Portfolio Pulse from Benzinga Newsdesk
CIBC analyst Mark Jarvi maintains a Neutral rating on Fortis and raises the price target from C$59 to C$63.

October 22, 2024 | 9:05 pm
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CIBC analyst Mark Jarvi maintains a Neutral rating on Fortis, but raises the price target from C$59 to C$63. This suggests a positive outlook on the stock's valuation.
The increase in the price target from C$59 to C$63 indicates a positive outlook on Fortis' valuation, which could lead to a short-term positive impact on the stock price. However, the Neutral rating suggests that the analyst does not see significant upside potential beyond the new target.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100