Canadian Utilities price target raised to C$36 from C$34 at Scotiabank

Scotiabank raised the firm’s price target on Canadian Utilities to C$36 from C$34 and keeps a Sector Perform rating on the shares. The firm believes utility stocks are “finally catching a bid,” likely due to a combination of falling Treasury yields, anticipated central bank rate cuts, rising concerns of slowing macroeconomic growth, and heightened geopolitical concerns in the U.S., the analyst tells investors. Additionally, fundamental growth outlooks are robust, the firm adds.