BofA Securities on Avista (AVA): 'data center opportunity less certain'

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."

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

Shares of Avista closed at $42.43 yesterday.

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