BMO Capital initiated coverage of Black Hills (BKH) with an Outperform rating and $68 price target The firm believes the shares are “excessively discounted” at current levels, trading at a20%-21% discount to peers “despite possessing many of the traits we expect to drive outperformance.” Black Hills offers an attractive relative valuation, a regulated focused growth strategy, strong balance sheet, above average rate base growth, and possible upside leverage for capital spending, the analyst tells investors in a research note.
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Read More on BKH:
- Black Hills Corp’s Earnings Call Highlights Growth and Challenges
- Black Hills Corp. Reaffirms Earnings and Growth Prospects
- Black Hills Amends Equity Distribution Agreement
- Black Hills Faces Financial Challenges: Sell Rating Due to Limited Growth Prospects and Rising Costs
- Black Hills backs FY25 EPS view $4.00-$4.20, consensus $4.10
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