Jefferies analyst Paul Zimbardo raised the firm’s price target on Eversource (ES) to $60 from $54 and keeps an Underperform rating on the shares. Though the firm sees continued complexity in the Aquarion divestiture approval process, it assumes the Aquarion closes in FY25 and believes that the deal will “eventually be approved in some form but the draft could call for denial without prejudice.” Short-term tax credits should help support Q3 and FY25 EPS, but are “not sustainable,” the analyst added.
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