Emera (TSE:EMA) Raised to “Buy” at Bank of America

Emera (TSE:EMA) was upgraded by equities researchers at Bank of America from a “neutral” rating to a “buy” rating in a report issued on Monday,BayStreet.CA reports. The brokerage presently has a C$57.00 price objective on the stock, up from their prior price objective of C$55.00. Bank of America‘s price objective would indicate a potential upside of 8.04% from the company’s previous close.

A number of other brokerages also recently weighed in on EMA. National Bankshares boosted their price target on Emera from C$49.00 to C$54.00 and gave the stock a “sector perform” rating in a research report on Friday, August 23rd. Scotiabank boosted their price target on Emera from C$52.00 to C$55.00 and gave the company an “outperform” rating in a research note on Tuesday, August 20th. Raymond James upped their target price on Emera from C$54.00 to C$57.00 and gave the stock an “outperform” rating in a research note on Monday, August 12th. Finally, Royal Bank of Canada increased their price target on Emera from C$57.00 to C$60.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Emera currently has an average rating of “Moderate Buy” and an average price target of C$52.30.

Emera Stock Performance

EMA traded up C$0.84 on Monday, hitting C$52.76. 271,710 shares of the company were exchanged, compared to its average volume of 1,265,921. Emera has a 12 month low of C$44.13 and a 12 month high of C$54.19. The company has a market cap of C$15.22 billion, a P/E ratio of 20.52, a PEG ratio of 6.20 and a beta of 0.35. The company has a current ratio of 0.79, a quick ratio of 0.23 and a debt-to-equity ratio of 155.62. The company has a fifty day moving average price of C$52.00.

About Emera

Emera Incorporated, through its subsidiaries, engages in the generation, transmission, and distribution of electricity to various customers. The company operates through Florida Electric Utility, Canadian Electric Utilities, Other Electric Utilities, Gas Utilities and Infrastructure, and Other segments.