Wunderlich Securities Increases PT on Northeast Utilities to $37, Maintains Hold (NU)
Wunderlich Securities increased its price target on Northeast Utilities (NYSE: NU) to $37 after better than expected Q1 results. In a research report published today, Wunderlich underlined bad weather and higher rates as reasons for Northeast's good performance, which was not enough to make Wunderlich upgrade its rating on Northeast from Hold, however.
In the report, Wunderlich states, "Northeast Utilities (NU) reported 1Q adjusted EPS of $0.69 versus $0.49 a year ago and our estimate of $0.59. The better-than-expected results were driven by colder weather and cost control, as well as a larger-than-expected impact from recent rate increases... We maintain our Hold rating."
In today's trading, Northeast lost 0.51% of its value and is currently trading at $35.21.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.