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
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