As previously reported, BofA upgraded Eversource (ES) to Buy from Neutral with a price target of $85, up from $73. The firm sees an “improving regulatory tone” across Eversource’s key jurisdictions and a path to about 6% EPS growth through 2029, driving total return potential. Eversource is nearing a cleaner balance sheet and improved funding flexibility, which should ease regulatory overhangs and position the company for greater long-term earnings visibility, the analyst tells investors.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% 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 upgraded to Buy from Neutral at BofA
- Eversource Energy’s Hold Rating Amid Aquarion Sale and Long-Term Cost Savings Potential
- Eversource Energy Issues $600M Senior Notes
- Cautious Outlook for Eversource Energy Amid Regulatory Challenges and Financial Adjustments
- TD launches utilities sector with Vistra, PG&E top picks