UPDATE: Credit Suisse Downgrades NiSource (NI) to Underperform; Stock 'Too Expensive', Says Analyst

August 19, 2016 6:39 AM EDT
Get Alerts NI Hot Sheet
Price: $22.20 --0%

Rating Summary:
    3 Buy, 5 Hold, 3 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 15 | Down: 17 | New: 10
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(Updated - August 19, 2016 10:46 AM EDT)

Credit Suisse downgraded NiSource (NYSE: NI) from Neutral to Underperform with a price target of $25. Analyst John Edwards said the stock was "just too expensive."

"While NI has attractive qualities such as strong visibility to future growth prospects and a relatively benign regulatory environment in which it operates, NI appears expensive relative to its own history, expensive relative to utilities, and expensive relative to our MLP coverage," said the analyst.

For an analyst ratings summary and ratings history on NiSource click here. For more ratings news on NiSource click here.

Shares of NiSource closed at $24.99 yesterday.

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