NiSource initiated with a Buy at Jefferies

Jefferies analyst Julien Dumoulin-Smith initiated coverage of NiSource (NI) with a Buy rating and $39 price target The firm likes shares and sees “unique acceleration with re-rating potential,” citing $10B-plus of upside capex potential from data centers and renewables build-outs as well as “net favorable regulatory backdrops in key states,” the analyst tells investors.