Southwest Gas reinstated with an Underperform at BofA

BofA reinstated coverage of Southwest Gas (SWX) with an Underperform rating and $73 price target While positive regulatory reform and strong jurisdictional growth have significantly improved prospects for the regulated gas utility, low visibility on the conclusion of a prolonged separation of Southwest’s utility infrastructure services business, Centuri, puts a “meaningful overhang on the stock,” the analyst tells investors.