Emera (TSE:EMA) Upgraded to “Outperform” at CIBC

Emera (TSE:EMA) was upgraded by equities research analysts at CIBC from a “neutral” rating to an “outperform” rating in a research report issued on Monday,BayStreet.CA reports. The firm currently has a C$58.00 target price on the stock, up from their previous target price of C$54.00. CIBC’s target price would suggest a potential upside of 8.55% from the company’s previous close.

A number of other research analysts have also recently issued reports on EMA. Scotiabank lifted their target price on Emera from C$52.00 to C$55.00 and gave the company an “outperform” rating in a research report on Tuesday, August 20th. Raymond James lifted their target price on Emera from C$54.00 to C$57.00 and gave the company an “outperform” rating in a research report on Monday, August 12th. Bank of America upgraded Emera from a “neutral” rating to a “buy” rating and boosted their price target for the stock from C$55.00 to C$57.00 in a report on Monday, November 25th. National Bankshares boosted their price target on Emera from C$49.00 to C$54.00 and gave the stock a “sector perform” rating in a report on Friday, August 23rd. Finally, Royal Bank of Canada boosted their price target on Emera from C$57.00 to C$60.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of C$53.10.

Emera Price Performance

EMA stock traded up C$0.01 during midday trading on Monday, reaching C$53.43. The company had a trading volume of 77,766 shares, compared to its average volume of 1,269,568. The stock has a market capitalization of C$15.41 billion, a P/E ratio of 20.79, a price-to-earnings-growth ratio of 6.20 and a beta of 0.35. The company’s 50 day simple moving average is C$52.11. Emera has a 1-year low of C$44.13 and a 1-year high of C$54.19. The company has a debt-to-equity ratio of 155.62, a current ratio of 0.79 and a quick ratio of 0.23.

About Emera

Emera Incorporated, through its subsidiaries, engages in the generation, transmission, and distribution of electricity to various customers. The company operates through Florida Electric Utility, Canadian Electric Utilities, Other Electric Utilities, Gas Utilities and Infrastructure, and Other segments.