BMO Capital raised the firm’s price target on NiSource (NI) to $49 from $47 and keeps an Outperform rating on the shares. Intervenors, including the OUCC, have submitted testimony outlining their positions in NIPSCO’s special contract application, and the firm views the OUCC’s position as positive, with the main points of contention on the special contract being NIPSCO’s plan to provide water and wastewater service to Amazon (AMZN) as well as moving all costs associated under the special contract and the relationship with Amazon to a unique business segment to insulate existing ratepayers, the analyst tells investors in a research note.
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