The target price that CIBC’s investment analysts have set for Hydro One (TSE: H) has increased from C$36.00 to C$39.00 as a direct result of the publication of a new study on Tuesday. Currently, the research and analysis firm for the company has assigned the business the rating of “outperform.” Compared to the price it most recently closed, CIBC’s target price may increase by 7.88%.
In recent times, H has been the topic of discussion among various analysts. [Case in point:] [Case in point:] The price target for Hydro One was decreased from C$38.00 to C$37.00, as stated in a report that was disseminated on Tuesday, September 20th, by BMO Capital Markets. In a research report made public by the Royal Bank of Canada on November 14th, the target price for Hydro One was increased by that institution from 37.00 Canadian Dollars to 38.00 Canadian Dollars. The analysis also categorized the company as “sector perform,” which indicates that it is anticipated that the business will perform better than its particular industry. CSFB raised their price objective for Hydro One from $34.00 to $36.00 in a research report that was published on Monday, November 21st. This increase came after they had previously set their price objective for Hydro One at $34.00. National Bankshares raised Hydro One’s target price in a research note published on Monday, November 14th. The new price target is C$32.00, up from C$31.00 previously. The findings of a research study published on Wednesday, October 26th, showed that Scotiabank raised its target price for Hydro One from $33.00 to $34.00, having previously set its target price at $33.00. The analysts have given the analysts a recommendation of five holds, with one buy rating, two sell recommendations, and four holds. According to Bloomberg, the stock has been given an average rating of “Hold,” and the price target that most analysts have agreed upon is currently set at C$34.44.
The TSE: H ended the trading day on Tuesday with a price of C$36.15, reflecting a loss of C$0.29 for the day. A total of 329,096 shares were traded in the company’s stock, which is significantly less than the stock’s average volume of 651,896 shares. The company’s market value is currently estimated to be 21.64 billion Canadian dollars, and its price-to-earnings ratio stands at 21.00. During the previous 52 weeks, the share price of Hydro One experienced a range that included a low of $30.52 and a high of $38.27. The company has a debt-to-equity ratio of 128.25, a quick ratio of 0.30, and a current ratio of 0.38. The 50-day moving average price and the 200-day moving average price, each in Canadian dollars, are C$36.05 and C$35.10, respectively.
Hydro One Limited is a corporation responsible for the transmission and distribution of electrical power in the Canadian province of Ontario. It accomplishes this through the use of its various subsidiaries. Transmission, distribution, and other areas are the three sub-industries that fall under its purview as far as conducting business is concerned. In addition to the primary low-voltage distribution network that spans 125,000 kilometers, the company owns and operates approximately 30,000 kilometers’ worth of high-voltage transmission lines.