Fortis Inc. (FTS:CA)–Barclays Capital maintained its Overweight rating and lowered its price target to C$76.00 from C$82.00. The target change represents a 7.3% decrease. Fortis operates regulated utilities in Canada, the United States and the Caribbean, with its capital program focused on expanding and maintaining utility infrastructure. Looking ahead, investors will be watching whether investment translates into approved rate-base growth and earnings, while financing costs, regulatory decisions and dividend coverage remain key considerations.
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