Jefferies raises PT on Eversource Energy, retains 'underperform' rating

** Jefferies raises price target on utility Eversource Energy ES.N to $54 from $47; maintains "underperform" rating

** New PT a 17.8% downside to the stock's last close

** Brokerage raises earnings per share and dividend per share expectations by 2%-4%, reflecting better-than-expected first half operating cash flows and Connecticut's storm securitization

** "We reiterate Underperform due to a challenged balance sheet, regulatory obstacles, and sector-low growth prospects that are not adequately priced-in" - Jefferies

** Brokerage says it sees additional oversight on transmission earnings as a risk

** 8 of 18 brokerages rate the stock "buy" or higher, 7 "hold" and 3 "sell" or lower; their median PT is $72 - data compiled by LSEG

** Up to last close, stock up 14.4% YTD