Eversource upgraded to Buy from Neutral at Mizuho

Mizuho upgraded Eversource to Buy from Neutral with a price target of $62, up from $54. The analyst now sees a path to a full offshore wind exit and the transformation to a pure-play, regulated utility with 5%-7% long-term growth. Eversource’s equity needs will be largely mitigated by the potential sale of its offshore wind assets and Aquarion, the analyst tells investors in a research note. Mizuho says the shares should trade at a low-single-digit discount once it becomes a pure-play regulated utility.