Mizuho analyst Gabriel Moreen initiated coverage of Southwest Gas (SWX) with an Outperform rating and $91 price target The firm views the investment case as “increasingly de-risked” with the completed separation of Centuri, improving regulatory backdrops in Arizona and Nevada, and a strengthening balance sheet. Arizona can be a “more structurally supportive operating environment” for Southwest Gas by 2028, the analyst tells investors in a research note. Mizuho also sees “significant upside” from the company’s Great Basin Expansion.
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