Black Hills initiated with a Buy at Ladenburg

Ladenburg initiated coverage of Black Hills (BKH) with a Buy rating and $77 price target The integrated electric and natural gas utility is transitioning into a “critical infrastructure provider for the regional AI and hyperscale data center boom,” the analyst tells investors. Black Hills is leveraging its strategic footprint in the Mountain West, along with supportive regulatory frameworks, to capture “unprecedented load growth,” the analyst added.