Avangrid price target lowered to $43 from $48 at Wells Fargo

Wells Fargo analyst Neil Kalton lowered the firm’s price target on Avangrid to $43 from $48 as uncertainties and challenges persist, while keeping an Equal Weight rating on the shares. The firm also lowers its 2023-2025 EPS estimate by 10% each as it reconciles the company’s 2023 EPS guidance versus its prior estimates.