UPDATE: Goldman Sachs Downgrades AVANGRID (AGR) to Sell

January 15, 2020 7:33 PM EST
Get Alerts AGR Hot Sheet
Price: $52.03 -0.65%

Rating Summary:
    4 Buy, 8 Hold, 4 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 10 | Down: 11 | New: 50
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(Updated - January 15, 2020 7:37 PM EST)

(updating comment)

Goldman Sachs analyst Michael Lapides downgraded AVANGRID (NYSE: AGR) from Neutral to Sell with a price target of $49.00.

The analyst comments "We downgrade AGR to Sell (from Neutral) on both regulatory and project risk, as we expect delays for both the NECEC (transmission) and Vineyard Wind (offshore wind) projects while the Networks segment currently faces NY rate case risk. Our estimates are below company guidance, and the stock continues to screen as expensive post stock price underperformance."

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

Shares of AVANGRID closed at $50.79 yesterday.

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