RY) thinks it's fairly valued at $1. The model upgraded utility FPL Group to "buy." Quarter: First-quarter profit soared 53% to $556 million, or $1.36, as revenue declined 2.3%. The operating margin expanded from 16% to 26%. The balance sheet holds $1.2 billion of cash and $21 billion of debt, equal to a debt-to-equity ratio of 1.5. Stock: FPL has fallen 9.3% during the past year, underperforming U.S. indices. It trades at a price-to-projected-earnings ratio of 11 and a price-to-cash-flow ratio of 4.9, 11% and 8% discounts to peer averages. The shares offer a 3.9% dividend yield. Consensus: Of analysts covering FPL, 13, or 54%, advise purchasing its shares and 11 recommend holding them. JPMorgan ( JPM) predicts that the stock will rise 19% to $61. Barclays ( BCS) expects it to climb 15% to $59. It has fallen 7%, annually, since 2007.