BofA Securities analyst Ross Fowler reiterated an Underperform rating and $37.00 price target on Avista (NYSE: AVA).

The analyst comments "With the data center opportunity less certain, we continue to see the investment case as dependent on core regulatory execution, reduced lag/improved earned-return visibility. On Friday 6/12 after market hours, Avista announced it had paused negotiations on energy service for the prospective 500MW data center development, a notable setback for what had been one of the company’s more visible large-load upside opportunities. The release cited the need for more time to align with government agencies, local leaders, regulators and community stakeholders after recent public attention/concern. While this setback may ultimately prove temporary (initial deployment was not expected until ~2029), we expect investors to treat the opportunity as effectively canceled pending evidence community, regulatory and policy concerns have been fully resolved."

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Shares of Avista closed at $42.43 yesterday.