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Fly News Breaks for January 15, 2020
ES
Jan 15, 2020 | 20:17 EDT
Goldman Sachs analyst Michael Lapides downgraded Eversource to Neutral from Buy but raised his price target to $87 from $81. The analyst cites valuation concerns after the company's relative outperformance, noting that while he still sees Eversource as one of the premium regulated companies in his coverage universe with added benefits from its offshore wind investment, he also believes that the 2.5-turn premium relative to its peers reflects much of its visible earnings upside.