In a report released yesterday, Ross Fowler from Bank of America Securities maintained a Hold rating on Eversource Energy (ES – Research Report), with a price target of $61.00.
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Ross Fowler’s rating is based on Eversource Energy’s recent financial performance and external factors impacting the company. The company’s Q1’25 earnings per share of $1.50 fell short of both Bank of America’s and market expectations, which were slightly higher. Despite maintaining its 2025 EPS guidance and a steady capital plan, the company’s earnings were negatively impacted by increased operational and maintenance costs, higher interest expenses, and losses in certain segments.
Additionally, regulatory challenges and potential liabilities, such as those related to the contentious relationship with Connecticut’s Public Utilities Regulatory Authority and the halted Equinor offshore wind project, contribute to the cautious outlook. The company’s stock price is close to the price objective set by Bank of America, suggesting limited upside potential. These factors combined led Ross Fowler to maintain a Hold rating, indicating a neutral stance on the stock’s future performance.
Fowler covers the Utilities sector, focusing on stocks such as Northwestern, Sempra Energy, and SJW. According to TipRanks, Fowler has an average return of 2.7% and a 60.59% success rate on recommended stocks.
In another report released on April 28, BMO Capital also maintained a Hold rating on the stock with a $72.00 price target.