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Fly News Breaks for April 25, 2019
AGR
Apr 25, 2019 | 06:57 EDT
As previously reported, BofA/Merrill downgraded Avangrid to Underperform from Neutral and cut its price target to $52.50 following the Q1 miss. Analyst Julien Dumoulin-Smith said underperformance in its Renewables fleet led to the revision in guidance, despite management's Q4 adjustment for poor January asset wind performance. The analyst has increased skepticism in Avangrid's ability to counter continued underperformance and meet is Renewables earnings guidance.
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