BMO Capital analyst James Thalacker raised the firm’s price target on Eversource to $74 from $70 and keeps a Market Perform rating on the shares. The firm is revising its model after the company announced the closing of the South Fork Wind and Revolution Wind sale to GIP, with adjusted gross proceeds from the transactions at $745M to be used to reduce parent debt, the analyst tells investors in a research note. BMO maintains that Eversource offers a unique profile within the sector given its largely decoupled, pure-play electric, gas, and water T&D operations.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ES:
- Eversource price target raised to $73 from $62 at Mizuho
- Eversource Energy Streamlines with Offshore Wind Sale
- Eversource price target raised to $68 from $67 at BofA
- Eversource price target raised to $75 from $69 at Morgan Stanley
- Eversource price target raised to $66 from $57 at Scotiabank