NiSource upgraded to Buy from Hold at Jefferies

Jefferies upgraded NiSource (NI) to Buy from Hold with a price target of $50, up from $46, following the company’s Q3 report. Inaugural GenCo EPS came in ahead of the firm’s view and the Street’s, with more datacenters to come, the analyst says. The firm stresses that the company’s 8%-9% consolidated EPS guide through’ FY33 and the 25c-45c GenCo EPS guide in FY33 only reflects the announced $7B data center capex through 2030 tied primarily to the 3GW signed, noting that there’s up to an additional 6 GW of DC pipeline.