Bullish indicating open at $55-$60, IPO prices at $37
Investing.com - BMO Capital raised its price target on Emera Inc. (TSX:EMA) (OTC:EMRAF) to C$68.00 from C$65.00 while maintaining an Outperform rating.
The price target increase follows Emera’s Q2/25 earnings report, which BMO Capital noted supports the company’s growth guidance and balance sheet strength.
BMO highlighted that Emera’s Florida Electric utility is delivering "supernormal growth" of 39%, while credit metrics continue to gradually improve with a target of 12%+ FFO/debt ratio.
The firm also pointed to favorable regulatory outcomes for Emera, which operates with approximately 95% of its business in regulated markets.
BMO Capital maintained its Outperform rating on Emera stock despite acknowledging that the total return potential to the new target price is now "more modest," citing the company’s relatively low risk profile and potential for growth to exceed expectations.
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