One Gas price target lowered to $80 from $88 at Mizuho

Mizuho analyst Gabriel Moreen lowered the firm’s price target on One Gas to $80 from $88 and keeps a Neutral rating on the shares. The company issued a "negative and unexpected" update lowering its five-year guidance across a number of key metrics, Moreen tells investors in a research note. The analyst believes the company’s historically premium multiple may be constrained until detail on regulatory initiatives emerge.