reports
- Charles Fishman
Fortis Closes Acquisition of Wide-Moat ITC Holdings
We are reaffirming our CAD 38 per share fair value estimate for Fortis after it closed its $11.3 billion enterprise value acquisition of ITC Holdings, an implied 6.5% premium to our $42 per share ITC fair value estimate. We already assumed a 100% probability that the deal would close in our Fortis fair value estimate. The acquisition transitions Fortis into a predominant U.S. utility, with roughly 60% of earnings from ITC, UNS Energy, and CH Energy. We don't forecast material synergies from the...
Ford Equity US Rating and Forecast Report
Ford Equity Research covers more than 4,000 stocks using a proprietary quantitative model that evaluates a company’s earnings strength, its relative valuation and recent price movement. Ford’s five recommendation ratings include strong buy, buy, hold, sell, strong sell. For all stocks in our coverage universe, ratings are generated each week and reflect the fundamental and price data as of the last trading day of the week.
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