08:36 AM EDT, 08/06/2024 (MT Newswires) -- Emera's ( EMRAF ) price target increased to $49 from $48 while its Sector Perform rating remained unchanged due to the company's improved balance sheet, National Bank of Canada said in a Tuesday note.

The bank made the price target change after Emera ( EMRAF ) agreed to sell its New Mexico Gas business to Bernhard Capital Partners for US$$1.252 billion.

With the deal, National Bank said Emera ( EMRAF ) surpassed the 15% asset sale portion of tis three-year capital plan.

Emera's ( EMRAF ) share price rose 1.6% on Friday to $49.71.