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Fly News Breaks for October 30, 2018
SJI
Oct 30, 2018 | 08:11 EDT
Wells Fargo analyst Sarah Akers resumed coverage of South Jersey Industries with a Market Perform rating and $31 price target. The analyst is attracted to its significant gas infrastructure growth opportunities, supportive New Jersey regulatory principles, and improving business mix. Her enthusiasm is tempered, however, by the meaningful leverage taken on to finance the Elizabethtown/Elkton acquisition, along with the remaining unregulated exposure and execution risk on major projects and regulatory initiatives.
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