UPDATE: Deutsche Bank Upgrades Northeast Utilities to Buy; Better Positioned Post Merger
Deutsche Bank raises its rating on Northeast Utilities (NYSE: NU) from Hold to Buy and raises its price target from $36.50 to $39.
Deutsche Bank notes, "We upgrade NU to Buy from Hold and raise our PT to $39 from $36.50 as we introduce our new outlook following NU's recent merger with NSTAR. We see an attractive entry point into a stock that offers above average LT EPS and DPS growth, below average regulatory risk (no rate cases until 2014), and no need for new equity in the near-term. Despite being a larger and arguably better positioned company post-merger, NU is currently trading at a 4% discount to peers. With this report we transfer lead coverage to Caroline Bone."
NU closed at $36.21 on Tuesday.
Latest Ratings for NU
|Feb 2015||Credit Suisse||Downgrades||Outperform||Neutral|
|Feb 2015||Deutsche Bank||Maintains||Hold|
|Dec 2014||Brean Capital||Downgrades||Buy||Hold|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.