Emera upgraded to Buy from Neutral at BofA

BofA analyst Ross Fowler upgraded Emera (EMRAF) to Buy from Neutral with a price target of C$57, up from C$55. The stock’s 6% discount to the North American utility peer group overstates risk associated with the upcoming Tampa Electric rate case outcome in December and the New Mexico Gas divestiture regulatory review, argues the firm, which forecasts a “solid” 6.0% EPS compound annual growth rate through 2027.