Loading...
Loading...
In a report published Friday, D.A. Davidson & Co. reiterated its Neutral rating on Avista Corp.
AVA, but slightly lowered its price target from $26.00 to $25.00.
D.A. Davidson noted, “Avista is executing a low-risk multi-year capital spending program to update its electric and gas utility infrastructure, which we expect will drive average earnings growth of 4%-5% per year through 2017...We value AVA shares at $25.00 (previously $26.00) over the next 12 months, which equates to 14.1x our 2013 EPS estimate. We expect the utility's relatively low-risk pipeline of capital projects to support earnings and dividend growth in line with peers over the next five years, but believe other firms in the industry present a more compelling opportunity at the current share price.”
Avista Corp. closed on Thursday at $23.81.
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in