Eversource upgraded to Neutral from Underperform at BofA

BofA analyst Paul Cole upgraded Eversource to Neutral from Underperform with an unchanged price target of $61. The stock’s risk/reward has stabilized, with the shares underperforming utility peers by 17% over the past six months and by 24% over the past 12 months, the analyst tells investors in a research note. The firm says Eversource currently trades at a 20% discount to the regulated utility peer group. The company’s “negative overhangs” are now reflected in its discounted valuation, contends BofA.