In a report published Monday, Morgan Stanley analyst Rajeev Lalwani initiated coverage on Northeast Utilities System NU with an Equal-Weight rating and $43.00 price target.
In the report, Morgan Stanley noted, “NU offers robust annual earnings growth of 6-9% to 2015. While this growth is attractive, upside in shares is tempered by transmission headwinds, already bullish consensus EPS expectations, and a more modest longer-term growth outlook. We see these dynamics delaying any multiple expansion.”
Northeast Utilities System closed on Friday at $41.02.
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