Scotiabank raised the firm’s price target on Eversource to $66 from $57 and keeps a Sector Perform rating on the shares. The firm believes utility stocks are “finally catching a bid,” likely due to a combination of falling Treasury yields, anticipated central bank rate cuts, rising concerns of slowing macroeconomic growth, and heightened geopolitical concerns in the U.S., the analyst tells investors. Additionally, fundamental growth outlooks are robust, the firm adds.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ES:
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue