Eversource price target raised to $72 from $70 at Guggenheim

Guggenheim raised the firm’s price target on Eversource to $72 from $70 and keeps a Buy rating on the shares. Management’s announcement of a sale process for Aquarion, details of the GIP transaction, and associated equity needs “exceeded our expectations,” says the analyst, who notes the stock has run up, but sees two items remaining in the near-term to “lead to further upside potential.” Those include the Sunrise RFP win, which could lead to incremental cashflows not embedded in plan, and a Connecticut water deal that beats the firm’s and investor expectations.