Northwest Natural Gas price target raised to $45 from $42 at Wells Fargo

Wells Fargo raised the firm’s price target on Northwest Natural Gas (NWN) to $45 from $42 and keeps an Equal Weight rating on the shares. The firm viewed the Q3 update favorably as EPS came in better-than-plan, the company affirmed 2024 guidance and, lastly, management discussed progress on regulatory and RNG initiatives, which Wells consider supportive of a healthy step-up in 2025 EPS.