MDU Resources initiated with a Hold at Freedom Capital

Freedom Capital initiated coverage of MDU Resources (MDU) with a Hold rating and $20 price target The firm says MDU operates regulated electric, natural gas, and pipeline businesses across eight U.S. states. This provides “predictable long-term cost recovery and stable returns,” the analyst tells investors in a research note. Freedom cites the stock’s valuation and “regulatory gaps” potentially hurting the company’s financial results in the near-term for the Hold rating.