As previously reported, Citi analyst Praful Mehta downgraded Avangrid to Neutral from Buy after the Interior Department was reported to have ordered an additional study to look at the "cumulative impacts" of the company's 800MW offshore wind project planned off the coast of Massachusetts. The expanded scope of the study "sounds quite broad and could mean a meaningful delay," said the analyst, who thinks there are limited options available to Avangrid. The Vineyard Wind project will likely add no equity value to Avangrid and "may even have negative equity value," said Mehta, who cut his price target on Avangrid shares to $52.