UPDATE: Goldman Sachs Downgrades AVANGRID (AGR) to Sell
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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."
Shares of AVANGRID closed at $50.79 yesterday.
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