NiSource price target raised to $50 from $44 at Mizuho

Mizuho analyst Gabriel Moreen raised the firm’s price target on NiSource (NI) to $50 from $44 and keeps an Outperform rating on the shares following the company’s announcement on November 24 of a $15B Amazon (AMZN) data center campus as NIPSCO GenCo’s anchor hyperscaler customer. The firm believes this deal cements NiSource’s position as “a stand-out name with leverage to hyperscaler/power generation development within the utility backdrop,” adding that it believes the Amazon announcement, as well as associated $1B of direct retail cost savings from the transaction, give NiSource the operational and political credibility to pursue additional hyperscaler deals.