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Hydro One Ltd
Symbol H
Shares Issued 599,077,067
Close 2024-02-14 C$ 40.16
Market Cap C$ 24,058,935,011
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Globe says Choy keeps Hydro One at "sector perform"

2024-02-15 07:58 ET - In the News

The Globe and Mail reports in its Thursday, Feb. 15, edition that RBC analyst Maurice Choy is keeping his "sector perform" recommendation for Hydro One intact. The Globe's David Leeder writes that Mr. Choy boosted his share target to $41 from $37. Analysts on average target the shares at $40.58. Mr. Choy says in a note: "While we believe some investors were disappointed with the absence of a 2023-2027 EPS guidance upgrade as part of Hydro One's in-line Q4/23 results release, management commentary suggests that one of the catalysts for an upgrade remains in place, albeit slightly delayed to potentially later this year. As such, investors are likely to be in a holding pattern until then, recognizing how the stock remains a solid defensive option amid a macro environment that continues to ebb and flow and in spite of Hydro One's elevated relative stock valuation versus its North American utility peers." The Globe reported on Nov. 11, 2021, Nov. 15, 2022, Sept. 12, 2023, and Nov. 10. 2023, that Mr. Choy rated Hydro One "sector perform." The shares were then worth $30.37, $34.06, $35.79 and $37.64. The Globe reported on Jan. 25, 2024, that Scotia Capital rated Hydro One "sector perform." It was then worth $39.71.

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