UPDATE: Credit Suisse Downgrades NiSource (NI) to Underperform; Stock 'Too Expensive', Says Analyst
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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.
Shares of NiSource closed at $24.99 yesterday.
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