Mizuho raised the firm’s price target on Eversource (ES) to $72 from $68 and keeps an Outperform rating on the shares. The firm cites current market multiples for the target increase, but says Connecticut regulation is “going through a rough patch this week” with a Moody’s downgrade of Connecticut Light and Power, and two court proceedings regarding Public Utilities Regulatory Authority and its relationship with utilities.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ES:
- Trump Trade: U.S. President says China getting 10% tariffs in ‘done’ deal
- Trump set to scrap Biden-era power-plant pollution curbs, Bloomberg says
- Eversource Energy: Hold Rating Amid Regulatory Developments and Valuation Concerns
- Eversource Energy Enters $1.2 Billion Equity Agreement
- Early notable gainers among liquid option names on May 20th