Janney Montgomery Scott upgraded Eversource (ES) to Buy from Neutral with an unchanged fair value estimate of $79. Connecticut regulators denying the sale of the company’s Aquarion assets is disappointing, but not worth the 12% selloff in the shares, the analyst tells investors in a research note. The firm believes Eversource’s fundamental outlook is improving and recommends investors take advantage of the pullback. Janney does not see a debt rating downgrade for the company.
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