Fortis Stock Forecast

Stock Price Forecast

The 2 analysts with 12-month price forecasts for Fortis stock have an average target of 61.25, with a low estimate of 60.5 and a high estimate of 62. The average target predicts an increase of 58.02% from the current stock price of 38.76.

Analyst Consensus: Buy

Target	Low	Average	Median	High
Price	$60.5	$61.25	$62	$62
Change	+56.09%	+58.02%	+59.96%	+59.96%

* Price targets were last updated on Aug 24, 2023.

Analyst Ratings

The average analyst rating for Fortis stock from 2 stock analysts is "Buy". This means that analysts believe this stock is likely to outperform the market over the next twelve months.

Recommendation Trends

Rating	Mar '23	Apr '23	May '23	Jun '23	Jul '23	Aug '23
Strong Buy	0	0	0	0	0	0
Buy	1	1	1	1	1	1
Hold	2	2	2	2	2	1
Sell	0	0	0	0	0	0
Strong Sell	0	0	0	0	0	0
Total	3	3	3	3	3	2

Latest Forecasts

Analyst	Firm	Rating	Rating	Action	Price Target	Upside	Date
Andrew Kuske Credit Suisse	Credit Suisse	Hold Maintains $62 → $61	Hold	Maintains	$62 → $61	+56.09%	Aug 24, 2023
David Quezada Raymond James	Raymond James	Buy Maintains $65 → $62	Buy	Maintains	$65 → $62	+59.96%	Aug 3, 2023
Maurice Choy RBC Capital	RBC Capital	Hold Reiterates $65	Hold	Reiterates	$65	+67.70%	Mar 24, 2023
David Quezada Raymond James	Raymond James	Hold → Buy Upgrades $58	Hold → Buy	Upgrades	$58	+49.64%	Oct 19, 2022
Mike Doyle Edward Jones	Edward Jones	Strong Buy → Hold Downgrades n/a	Strong Buy → Hold	Downgrades	n/a	n/a	Jul 27, 2022

More Analyst Ratings

Financial Forecast

Revenue This Year

12.18B

from 11.52B

5.72%

from 11.52B

Revenue Next Year

12.64B

from 12.18B

3.82%

from 12.18B

EPS This Year

3.25

from 3.10

4.79%

from 3.10

EPS Next Year

3.36

from 3.25

3.31%

from 3.25

Year	2019	2020	2021	2022	2023	2024	2025	2026	2027	2028
Revenue	8.78B	8.94B	9.45B	11.04B	11.52B	12.18B	12.64B	12.84B	13.41B	14.02B
Revenue Growth	4.68%	1.73%	5.74%	16.88%	4.29%	5.72%	3.82%	1.56%	4.42%	4.61%
EPS	3.78	2.60	2.61	2.78	3.10	3.25	3.36	3.49	3.78	4.04
EPS Growth	45.95%	-31.22%	0.38%	6.51%	11.51%	4.79%	3.31%	4.13%	8.13%	6.88%
Forward PE	-	-	-	-	-	11.93	11.55	11.09	10.26	9.60
No. Analysts	-	-	-	-	-	14	14	10	5	4

Financial currency is CAD. Historical EPS numbers are GAAP, while forecasted numbers may be non-GAAP.

Revenue Forecast

Revenue	2024	2025	2026	2027	2028
High	13.4B	14.0B	14.4B	14.6B	15.4B
Avg	12.2B	12.6B	12.8B	13.4B	14.0B
Low	11.1B	11.4B	11.9B	12.3B	12.9B

Revenue Growth

Revenue Growth	2024	2025	2026	2027	2028
High	16.1%	14.8%	14.2%	14.1%	14.5%
Avg	5.7%	3.8%	1.6%	4.4%	4.6%
Low	-3.9%	-6.3%	-6.2%	-3.8%	-3.9%

EPS Forecast

EPS	2024	2025	2026	2027	2028
High	3.48	3.60	3.77	4.02	4.28
Avg	3.25	3.36	3.49	3.78	4.04
Low	3.07	3.17	3.27	3.61	3.84

EPS Growth

EPS Growth	2024	2025	2026	2027	2028
High	12.1%	10.9%	12.3%	15.0%	13.3%
Avg	4.8%	3.3%	4.1%	8.1%	6.9%
Low	-1.1%	-2.6%	-2.5%	3.2%	1.6%

Sources: Price targets and analyst ratings provided by Benzinga. Revenue and EPS forecast data provided by Finnhub. The data is sourced from Wall Street analysts. Data disclaimer.