BofA analyst Ross Fowler reinstated coverage of NorthWestern Energy with a Buy rating and $65 price target. The regulated electric and natural gas utility stands apart from SMID-cap peers with what the firm believes are growth upside opportunities that do not come with material equity dilution or elevated regulatory risk, the analyst tells investors. The firm sees potential upside from owned generation opportunities from the upcoming 2025 IRP/RFP processes, potential commercial and industrial customer growth, and FERC transmission opportunities, the analyst added.
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 NWE:
- NorthWestern Energy Executives Engage Investors at Conference
- Northwestern Board Member Resigns, Board Size Reduced
- NorthWestern Energy price target raised to $53 from $50 at Barclays
- Northwestern Q2 Earnings Webcast with CEO & CFO
- NorthWestern Energy backs FY24 EPS view $3.42-$3.62, consensus $3.50