Fortis Inc. (NYSE: FTS) is listed among the 13 Best Canadian Dividend Stocks to Buy and Hold for the Long Term. CIBC raised the price target for FTS to C$75 and maintained an Outperform rating on November 5. The company spent $4.2 billion on capital projects in the first nine months of the year, on track to hit its full-year goal of $5.6 billion. Fortis announced a new five-year capital plan worth $28.8 billion, aiming for a 7% annual rate base growth to reach $57.9 billion by 2030. The company plans to raise the dividend by 4-6% annually through 2030, with a 4% increase in the quarterly dividend on November 4, marking 52 straight years of dividend growth. Fortis operates a regulated natural gas and electricity utility network, with 93% of assets tied to lower-risk transmission and distribution businesses, supporting stable financial results and consistent dividend growth. Leadership aims to keep Fortis as a reliable long-term pick for income-focused investors, with a focus on consistent dividend growth. While Fortis is considered a strong investment, some AI stocks may offer greater upside potential with lower downside risk. For more insight, check out the collection of the 12 Best European Dividend Stocks to Buy Now and 15 Stocks with Highest Dividend to Invest In.

Read more at Yahoo Finance: CIBC Reaffirms Outperform Rating While Raising Fortis (FTS) Price Target