Centuri initiated with an Outperform at Baird

Baird analyst Justin Hauke initiated coverage of Centuri with an Outperform rating and $30 price target. The firm likes the company’s small project focus, predictable revenue model and exposure to U.S. electrification and grid investment. The Southwest Gas separation unlocks growth potential outside a regulated utility umbrella, with potential overhead cost savings and more efficient fleet management offering potential margin opportunities, the analyst tells investors in a research note.