Jefferies Starts NiSource (NI) at Buy

Jefferies analyst Julien Dumoulin-Smith initiates coverage on NiSource (NYSE: NI) with a Buy rating and a price target of $39.00.

The analyst comments "We initiate NiSource (NI) at BUY with a +15.3% TSR, driven by 1) >$10Bn+ of upside capex potential from data centers & renewables build-outs, fueling Indiana electric gen. & gas infra; 2) net favorable regulatory backdrops in key states; 3) strict cost controls; 4) robust JSN issuances. We identify a total of $4.0Bn incremental capex thru '28 and forecast an 8.5% '24-'28 EPS CAGR, exceeding the guidance top-end and consensus of 7.7% by ~80bps."

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 $34.82 yesterday.

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