NiSource price target raised to $32 from $31 at BMO Capital

BMO Capital raised the firm’s price target on NiSource to $32 from $31 and keeps an Outperform rating on the shares. The analyst is also boosting the firm’s Q2 EPS view by 8c to 19c, largely driven by “rate relief/riders, AFUDC, and the absence of perpetual preferred interest expense”. BMO adds that NiSource’s analyst day has meaningfully derisked the story that promises investors above-average earnings and rate base growth in favorable regulatory jurisdictions.