B of A Securities Maintains Underperform Rating for Avangrid: Here's What You Need To Know

B of A Securities has decided to maintain its Underperform rating of Avangrid AGR and lower its price target from $37.00 to $34.00.

Shares of Avangrid are trading down 1.18% over the last 24 hours, at $39.41 per share.

A move to $34.00 would account for a 13.73% decrease from the current share price.

About Avangrid

Avangrid operates two business units, Networks and Renewables. Networks operates eight regulated electric and natural gas utilities across New York, Maine, Connecticut, and Massachusetts, serving over 3 million customers. Renewables has historically focused on developing onshore wind projects but is looking to make developments in solar and offshore wind over the next five years. It operates more than 8.6 gigawatts of renewable energy across the U.S. Spanish utility Iberdrola spun off Avangrid's predecessor, Iberdrola USA, in 2015. Iberdrola owns 81.5% of Avangrid.

About Analyst Ratings

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Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.

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Posted In: Analyst RatingsBZI-AAR-UPDATE
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