Fortis

FTS · TORONTO

$55.81+$0.91 (+1.66%)TodayMarket closed · Oct 20, 7:30 PM ET

Prev close $54.90

FTS analyst rating

BuyConsensus of 2 analysts over the last 12 months. 50% rate it a buy.

Strong buy0
Buy1
Hold1
Underperform0
Sell0

12-month price target · 15 analysts

Average $59.91 (+7.3% upside)

Low: $54.29
Now: $55.81
High: $66.10

Upgrades and downgrades

The latest rating actions, newest first

FTS analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Barclays	Sep 29, 2026	Maintains	Overweight	$60.00 → $56.00	52%
RBC Capital	Aug 3, 2026	Maintains	Sector Perform	$80.00 → $89.00	50%
Barclays	Aug 3, 2026	Maintains	Overweight	$61.00 → $60.00	52%
Barclays	May 8, 2026	Maintains	Overweight	$62.00 → $61.00	52%
Barclays	Apr 28, 2026	Initiates	Overweight	$62.00	52%

The case for and against

Updated Oct 22, 2025

Bull case

Fortis owns and operates multiple utility subsidiaries, serving approximately 3.5 million customers, and anticipates significant financial growth driven by a $26.0 billion capital expenditure plan. The company projects its rate base to grow from $39.0 billion in 2024 to $53.0 billion by 2029, representing a compound annual growth rate (CAGR) of 6.5%. This positive rate base growth is expected to underpin future cash flows and support Fortis's target of increasing dividends by 4-6% through 2029.

Bear case

Fortis has revised its EPS estimate for 2025 down to $3.49 from $3.53, primarily reflecting weaker-than-expected results from subsidiaries such as UNS Energy and FortisAlberta due to lower wholesale sales margins and increased operational costs. These challenges are exacerbated by unfavorable market conditions and timing issues in cost recognition, which are not yet mirrored in customer rates. Although the 2026 forecast remains stable, the adjustments in 2025 metrics indicate underlying financial pressures that could impact the company's overall performance.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.