Canadian Utilities initiated with a Sector Perform at Scotiabank

Scotiabank analyst Robert Hope initiated coverage of Canadian Utilities with a Sector Perform rating and C$41 price target. Canadian Utilities offers investors "a low-risk, diversified utility cash flow stream with a focus on Alberta," but the firm said it views 2022 as being "an abnormally strong earnings year" and assumes EPS declines about 4% in 2023.