UPDATE: Jefferies Reiterates Hold Rating, Raises PT on NiSource Ahead of Investor Day

In a report published Monday, Jefferies analyst Christopher Sighinolfi reiterated a Hold rating on

, and raised the price target from $37.00 to $40.00. In the report, Jefferies noted, “On Sept. 29th, NI will hold an Investor Day in NYC to review business operations & discuss strategic plans. We expect investors will seek color on large-ticket initiatives such as Rayne/Leach & WB XPress, project status updates & indications of incremental growth opportunities, and revisions to EPS & dividend growth targets. Moreover, after years of mounting MLP speculation, we believe mgmt is poised to formally commit to an MLP creation in 2015.” NiSource closed on Friday at $39.76.