The Globe and Mail reports in its Wednesday, Feb. 25, edition that Desjardins Securities analyst Brent Stadler continues to rate Emera "hold." The Globe's David Leeder writes in the Eye On Equities column that Mr. Stadler advanced his share target by a loonie to $69. Analysts on average target the shares at $71. Mr. Stadler says in a note: "With the quarterly results, Emera extended its 5– to 7-per-cent EPS CAGR [compound annual growth rate] out to 2030, which was roughly in line with our expectations. Recall, Emera had previously outlined a $20-billion capital plan, which should drive a 7–8-per-cent rate case CAGR with expected 1– to 2-per-cent dividend growth guidance.
In our view, based on what we see today, upside from the plan could come from continued strong results at Emera Energy (largely weather driven), potentially some smaller data centre deals and favourable weather at the utility segments. In the guidance, we believe that Emera set it with expectations for Tampa Electric rate cases every three years, ie in 2028 and 2031, which better reflects the 2024 base year. ... Emera commented that Emera Energy is off to a strong start and we have increased our 2026 estimate to largely reflect this guidance."
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