Southwest Gas price target lowered to $66 from $77 at Wells Fargo

Wells Fargo analyst Sarah Akers lowered the firm’s price target on Southwest Gas to $66 from $77 and keeps an Equal Weight rating on the shares. The analyst notes the strategic review processes on MountainWest and Centuri are taking longer than expected, but remain active, and near-term inflationary/supply chain challenges at Centuri led to another guidance cut. Akers is "significantly lowering" her near-term EPS outlook reflecting margin pressure at Centuri, and also reducing her 5-year outlook reflecting higher interest rates.