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Wells Fargo Raises PT on Northeast Utilities (NU)

February 20, 2013 2:09 PM EST Send to a Friend
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Price: $45.89 +0.68%

Rating Summary:
    8 Buy, 6 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 3 | Down: 4 | New: 7
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Wells Fargo today maintained an Outperform rating on Northeast Utilities (NYSE: NU) and raised its price target of $46 to 47 (from $43 to $44). Yesterday the company reported Q4 results, with EPS slightly below consensus. Northeast Utilities reiterated full year guidance.

"Our Outperform rating reflects our belief that shares deserves a premium valuation given the EPS growth profile, heavy concentration of FERC-regulated earnings, potentially light rate case calendar and strong financial position," said analyst Neil Kalton.

Regarding the Norther Pass route, Northeaster said it plans to announce the new route in the next several weeks, and expressed a high degree of confidence in the ability to gain site approval, noted the report.

For an analyst ratings summary and ratings history on Northeast Utilities (NYSE: NU) click here. For more ratings news on Northeast Utilities click here.

Shares of Northeast Utilities closed at $41.41 yesterday.




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