BMO Capital analyst James Thalacker maintained a Hold rating on Eversource Energy yesterday and set a price target of $78.00.
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James Thalacker has given his Hold rating due to a combination of factors impacting Eversource Energy. The company’s recent announcement of an additional $285 million potential liability related to its offshore wind (OSW) disposition, partially offset by a $210 million federal tax benefit, results in a net $75 million impact. This financial adjustment, coupled with the narrowing of their 2025 non-GAAP guidance range, suggests a cautious outlook.
Moreover, the company’s unique profile in the sector, with its focus on electric, gas, and water transmission and distribution operations, is somewhat overshadowed by regulatory uncertainties in Connecticut. These regulatory challenges, along with the absence of a clear ESG strategy, contribute to the Hold rating as they present potential risks to the company’s future performance.
In another report released yesterday, TD Cowen also initiated coverage with a Hold rating on the stock with a $76.00 price target.
Based on the recent corporate insider activity of 38 insiders, corporate insider sentiment is neutral on the stock.