UPDATE: Mizuho Securities Starts Northwestern Corp. (NWE) at Neutral

Mizuho Securities analyst Anthony Crowdell initiates coverage on Northwestern Corp. (NASDAQ: NWE) with a Neutral rating and a price target of $62.00.

The analyst comments "We are initiating coverage of NWE with a Neutral rating, based on our estimated slower earnings growth relative to small-cap utility peers and potential for disruptive regulatory outcomes over the next two years. The company’s upcoming regulatory items include: 1) filing an electric rate case this year at the Montana Public Service Commission; 2) setting up timely recovery for the planned $175 million construction gas peaker (Laurel) in 2024; and 3) reaching a constructive solution with other owners of the Colstrip coal plant. Our EPS estimates embed 3% growth through 2024 off the company's 2020 base EPS of $3.35, at the low-end of the company’s targeted 3% to 6%."

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

Shares of Northwestern Corp. closed at $61.36 yesterday.

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