NiSource price target raised to $38 from $37 at BofA

BofA analyst Ross Fowler raised the firm’s price target on NiSource (NI) to $38 from $37 and keeps a Buy rating on the shares. The firm, which maintains its FY24, FY25 and FY26e EPS estimates of $1.72, $1.85 and $2.01, respectively, sees valuation “steadily grinding higher” as the company continues to execute at or above its annual guidance midpoint and re-bases higher off actuals.