International Strategy & Investment Comments on Northeast Utilities
International Strategy & Investment has published a report on Northeast Utilities (NYSE: NU).
In the report, International Strategy & Investment wrote, "On July 18, the Boston Globe reported that an intervening party in the NU/NST merger case, the MA Department of Energy Resources (“DOER”), filed a request with the DPU on 7/14/11 that merger review proceedings be halted until NST completes a full rate review, which could take as long as a year. NST's current rate plan, which expires YE '12 was established via a settlement in 2006. We assume this plan is constructively renegotiated next year or perhaps dealt with in the context of a global settlement in the merger review proceedings, but the outcome is not risk free."
International Strategy & Investment rated Northeast Utilities a SELL with a price target of $33.50. Northeast Utilities closed Monday at $34.29.
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