CIBC Forecasts Strong Price Appreciation for Emera (TSE:EMA) Stock

Emera (TSE:EMA) had its price objective raised by equities research analysts at CIBC from C$58.00 to C$59.00 in a report released on Monday,BayStreet.CA reports. CIBC’s price target would suggest a potential upside of 3.09% from the stock’s previous close.

Other analysts also recently issued research reports about the company. JPMorgan Chase & Co. raised Emera from an “underperform” rating to a “neutral” rating and lifted their target price for the company from C$51.00 to C$56.00 in a research note on Thursday, December 12th. Wells Fargo & Company boosted their target price on shares of Emera from C$51.00 to C$56.00 in a report on Monday, December 9th. BMO Capital Markets raised their price objective on Emera from C$54.00 to C$58.00 in a research report on Thursday, December 5th. Royal Bank of Canada increased their target price on Emera from C$60.00 to C$63.00 in a research report on Monday. Finally, National Bankshares boosted their price target on shares of Emera from C$54.00 to C$55.00 in a research report on Thursday, December 5th. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Emera currently has an average rating of “Moderate Buy” and a consensus target price of C$58.10.

Emera Price Performance

EMA stock traded down C$0.46 during trading on Monday, hitting C$57.23. 222,145 shares of the stock traded hands, compared to its average volume of 1,556,767. The company has a current ratio of 0.72, a quick ratio of 0.23 and a debt-to-equity ratio of 150.23. The stock has a market capitalization of C$16.78 billion, a PE ratio of 22.18, a price-to-earnings-growth ratio of 6.20 and a beta of 0.35. Emera has a 1 year low of C$44.13 and a 1 year high of C$57.93. The stock has a 50 day simple moving average of C$54.45.

Emera Company Profile

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.