UPDATE: Credit Suisse Downgrades Northwestern Corp. (NWE) to Neutral

(Updated - April 13, 2021 5:15 AM EDT)

Credit Suisse analyst Michael Weinstein downgraded Northwestern Corp. (NASDAQ: NWE) from Outperform to Neutral with a price target of $66.00.

The analyst comments "Downgrade to Neutral on valuation after recent outperformance. We are increasing our TP $6 to $66, with estimates through 2023 unchanged. We expect 1Q21 adj EPS of $1.13 vs. cons $1.12, vs 1Q20 $1.06, driven by gross margin improvements and lower COVID19 impacts, with a penny of benefit vs higher O&M last year. We also expect an update on the RFP and selection of at least one self-build project with at least $200M of capex, and legislative and regulatory updates. South Dakota electric is likely to file in 2021 to add the planned $60-MW, $80M plant at Huron into ratebase."

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 $66.97 yesterday.

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