Citi sees a challenging cash flow and balance sheet improvement path for Eversource (ES) after its Aquarion unit sale was denied by Connecticut’s Public Utilities Regulatory Authority. Citi believes the new PURA is proving less positive than hoped by investors. It keeps a Neutral rating on Eversource with a $69 price target The stock in afternoon trading is down 10% to $66.93.
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Read More on ES:
- Wells downgrades Eversource to Equal Weight on ‘failed’ Aquarion Water deal
- Eversource falls after Connecticut denies sale of Aquarion unit
- Eversource downgraded to Equal Weight from Overweight at Wells Fargo
- Eversource price target raised to $80 from $79 at Goldman Sachs
- Eversource price target raised to $64 from $55 at Scotiabank