Fortis had its Relative Strength (RS) Rating upgraded from 88 to 91 Friday.
This exclusive rating from Investor's Business Daily tracks market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock's price performance over the trailing 52 weeks stacks up against all the other stocks in our database.
Over 100 years of market history shows that the best stocks tend to have an RS Rating north of 80 at the beginning of a new price run.
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While Fortis is not near a proper buy point right now, see if it goes on to form and break out of a proper base.
The company showed 15% earnings growth last quarter, while sales growth came in at 2%. The company is expected to report its latest performance numbers on or around May 7.
Fortis earns the No. 11 rank among its peers in the Utility-Diversified industry group. Ameren Corp, Chesapeake Utilities and Alliant Energy are among the top 5 highly rated stocks within the group.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
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