After the Bureau of Ocean Energy Management ordered a halt to all activities at the Revolution Wind project, BofA analyst Ross Fowler believes a material delay in the schedule could extend the in-service date and increase project cost. While noting that Eversource (ES) agreed to sell its ownership stake in February of 2024 to Global Infrastructure Partners, the firm also points out that the company retains certain cost sharing obligations so the order could create unanticipated cost for Eversource. BofA reiterates a Neutral rating and $68 price target on Eversource Energy shares.
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