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Hydro One Ltd
Symbol H
Shares Issued 599,077,067
Close 2024-04-19 C$ 37.80
Market Cap C$ 22,645,113,133
Recent Sedar Documents

Globe says Hydro One maintained at "neutral"

2024-04-19 08:12 ET - In the News

The Globe and Mail reports in its Friday, April 19, edition that CIBC World Markets analysts Robert Catellier and Mark Jarvi have reaffirmed their "neutral" recommendation for Hydro One. The Globe's David Leeder writes that Mr. Catellier and Mr. Jarvi trimmed their share target by a loonie to $39. Analysts on average target the shares at $40.36. The CIBC stockpickers say in a note: "We have modified estimates for the midstreamers under coverage to reflect milder weather and generally higher marketing results, notably frac spreads. Pipeline utilization remains robust despite mild winter weather due to restricted capacity additions, although short periods of extreme cold weather can impact operations in the quarter. Improved egress options are expected to benefit the industry as a whole and create a step change in capacity. Sentiment and performance for the power/utilities group has been weak year to date; we do not believe the Q1/24 results nor the quarterly updates (growth, management changes, capital allocation) will be catalysts to turn things around. We believe a recovery in some of the power names will take a few quarters (if not until 2025) to play out absent a change in the macro/market outlook/sentiment."

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