Black Hills price target raised to $91 from $84 at BMO Capital

BMO Capital analyst Edward DeArias raised the firm’s price target on Black Hills (BKH) to $91 from $84 and keeps an Outperform rating on the shares after the stock jumped on reports that Microsoft (MSFT) is purchasing land to build a data center to be served by the company. Over time this opportunity with continued hyperscaler interest in the state should lengthen Black Hills’ transformational growth, the analyst tells investors in a research note. The stock’s current discount to the broader group is discounting management’s execution on the current plan, the strong balance sheet, and the timely recovery mechanisms with the potential for incremental large load announcements and capital plan revisions, the firm added.