Centuri price target lowered to $22 from $29 at Wells Fargo

Wells Fargo analyst Joseph O’Dea lowered the firm’s price target on Centuri to $22 from $29 and keeps an Overweight rating on the shares. The firm notes Q2 revenue was down 17% year-over-year and missed its estimate by 13%. There was pressure in both Gas and Electric. The softening is discouraging, but the message is that there is no share loss and these projects aren’t discretionary, Wells adds.