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Hydro One Ltd
Symbol H
Shares Issued 599,077,067
Close 2024-01-10 C$ 38.95
Market Cap C$ 23,334,051,760
Recent Sedar Documents

Globe says CIBC's Jarvi keeps Hydro One in "neutral"

2024-01-10 08:44 ET - In the News

The Globe and Mail reports in its Wednesday edition that CIBC analyst Mark Jarvi has reaffirmed his "neutral" recommendation for Hydro One. The Globe's David Leeder writes in the Eye On Equities column that Mr. Jarvi gave his share target a $2 boost to $40. Analysts on average target the shares at $38.46. Mr. Jarvi says in a note: "2023 was a challenging year for renewables and the Alberta power names limped into year-end. We are optimistic a recovery will come in the next few years. We might be early on the renewables call but we see attractive upside for investors willing take a bit more risk (preferred names: Boralex, Northland Power). The outlook for the regulated utilities is fairly stable: it is hard to get excited on valuation and earnings-per-share upside, but we believe some core exposure (lean toward quality over recovery) makes sense to hedge against macro/market uncertainty." The Globe reported on April 22 that Mr. Jarvi had lowered his recommendation for Hydro One to "neutral" from "outperformer." In the item Mr. Jarvi called Hydro One a "top-quality name with the most defensive positioning and strongest growth" in his regulated utilities coverage universe. The shares could then be had for $39.96.

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