JP Morgan Raises UIL PT To $30

JP Morgan has issued a report raising the Price Target on UIL Holdings

from $29 to $30 a share. According to the report, “We expect UIL to earn its allowed ROEs, and do so without rate cases at its gas utilities for the next several years (UIL likely files an electric case this year). We also expect UIL to drive growth by adding new gas customers. The shares offer an attractive yield, but trade at a premium, thus our Neutral rating.” UIL has a Neutral rating and closed at $30.12 yesterday.