Mizuho lifts NiSource PT on Amazon data center deal
Brokerage Mizuho raises price target on U.S. utility NiSource NI.N to $50 from $44
The new PT represents 19.4% upside to stock's last close
Brokerage says NiSource's partnership deal with Amazon AMZN.O related to the building of data center campuses in Northern Indiana cements its hyperscaler-driven utility lead
Mizuho continues to see room for upside within this range and beyond if the project moves ahead of schedule or NI secures more deals from its roughly 6 gigawatts (GW) of additional opportunities
"We believe the Amazon announcement, as well as associated ~$1bn of direct retail cost savings from the transaction, provide NI with the operational and political credibility to pursue additional deals," brokerage says
13 of 15 brokerages rate the stock "buy" or higher, 2 "hold", median PT is $47 - data complied by LSEG
Up to last close, shares up 13.9% YTD
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