NorthWestern Energy price target raised to $63 from $62 at BofA

BofA analyst Ross Fowler raised the firm’s price target on NorthWestern Energy (NWE) to $63 from $62 and keeps a Buy rating on the shares. Following an initial negative reaction to the refresh of growth off a FY24 base from FY22 prior, the stock has recovered and is up about 5% since FY24 earnings, notes the analyst, who believes “the market was overly punitive on the refresh as nothing about the outlook has fundamentally changed.”