Emera (TSE:EMA) Stock Rating Upgraded by Bank of America

Emera (TSE:EMA) was upgraded by research analysts at Bank of America from a “neutral” rating to a “buy” rating in a note issued to investors on Monday,BayStreet.CA reports. The firm currently has a C$57.00 price objective on the stock, up from their previous price objective of C$55.00. Bank of America‘s price target would suggest a potential upside of 7.79% from the company’s previous close.

A number of other research firms have also weighed in on EMA. Royal Bank of Canada raised their price objective on shares of Emera from C$57.00 to C$60.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. National Bankshares raised their price objective on shares of Emera from C$49.00 to C$54.00 and gave the company a “sector perform” rating in a research note on Friday, August 23rd. Raymond James raised their price objective on shares of Emera from C$54.00 to C$57.00 and gave the company an “outperform” rating in a research note on Monday, August 12th. Finally, Scotiabank raised their price objective on shares of Emera from C$52.00 to C$55.00 and gave the company an “outperform” rating in a research note on Tuesday, August 20th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of C$52.30.

Emera Price Performance

Shares of TSE EMA opened at C$52.88 on Monday. The stock has a market cap of C$15.25 billion, a PE ratio of 20.55, a P/E/G ratio of 6.20 and a beta of 0.35. The company has a debt-to-equity ratio of 155.62, a quick ratio of 0.23 and a current ratio of 0.79. Emera has a 1 year low of C$44.13 and a 1 year high of C$54.19. The company’s 50-day simple moving average is C$52.02.

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.