Stifel analyst Selman Akyol downgraded One Gas to Hold from Buy with an unchanged price target of $80. The analyst continues to favor the One Gas story, but believes the stock’s near-term catalysts are limited given the challenging macro environment and the regulatory lag associated with utilities. With the rapid increase in interest rates and other general expenses, the company’s regulatory lag will be more profound near-term, Akyol tells investors in a research note. As a result, the analyst believes One Gas’ earnings growth should be "muted" in 2023 and 2024.
Published first on TheFly
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