Fortis Upgraded to Outperformer by CIBC Analyst Mark Jarvi

CIBC analyst Mark Jarvi upgraded Fortis (FTS) to Outperformer from Neutral with a C$70 price target.

CIBC analyst Mark Jarvi has upgraded Fortis Inc. (TSE:FTS) to an Outperform rating, raising the price target to C$70 from C$69 [3]. This move comes amidst a backdrop of mixed analyst sentiment, with nine firms currently rating Fortis as a Hold, two as Sell, and one as a Strong Buy [1]. The average 1-year price objective among analysts stands at C$65.14 [1].

Fortis has been the subject of several recent analyst reports. TD Securities set a C$74.00 target price on shares of Fortis and gave the company a "buy" rating in a research note on June 27th [1]. UBS Group boosted their price objective to C$63.00 from C$58.00 in a research report on March 21st [1]. Jefferies Financial Group raised their price target to C$70.00 from C$67.00 on April 14th [1]. CIBC and Scotiabank also raised their price targets to C$70.00 in separate reports [1].

The stock has seen a recent uptick in performance, trading up C$0.18 on Tuesday, July 1st, reaching C$64.61 [1]. The company's 52-week low is C$53.85, and its 52-week high is C$69.24. Fortis has a market capitalization of C$31.96 billion, a PE ratio of 19.18, and a debt-to-equity ratio of 142.31 [1]. The firm's dividend payout ratio is currently 73.02%, with a recent quarterly dividend of $0.615 per share [1].

References:
[1] https://www.marketbeat.com/instant-alerts/fortis-inc-tsefts-given-average-recommendation-of-hold-by-brokerages-2025-07-08/
[2] https://www.gurufocus.com/news/2987862/cenovus-energy-cve-price-target-boosted-by-cibc-analyst-cve-stock-news
[3] https://www.tipranks.com/stocks/fts/forecast