Stock Rating Upgrade
Reflecting improving fundamentals and high Appreciation Potential, the Value Trend Rating for Fortis Inc (NYSE: FTS) improved recently. FTS’ current Value Trend Rating is B and the prior Rating was C. Details supporting this higher rating are included in our next report.
Recent Price Action
Fortis Inc (NYSE: FTS) stock rose slightly by 0.1% on 7/29/24. The stock closed at $41.07. Moreover, this advance was accompanied by unusually high trading volume at 156% of normal. The stock has been weak relative to the market over the last nine months but has risen 1.4% during the last week.
Current PriceTarget Research Rating
FTS’ future returns on capital are forecasted to exceed the cost of capital. Accordingly, the company is expected to continue to be a modest Value Builder.
Fortis has a current Value Trend Rating of B (Positive). This VT Rating improved in recent days from C previously. The Value Trend Rating reflects very contradictory signals from PTR’s two proprietary measures of a stock’s attractiveness. Fortis has a very high Appreciation Score of 94 but a slightly negative Power Rating of 30, producing the Positive Value Trend Rating.
Be the first to comment