HEI Reports Third Quarter 2024 Results
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Hawaiian Electric (HE) PT Raised to $11 at Evercore ISI
November 11, 2024 5:56 AM ESTEvercore ISI analyst Durgesh Chopra raised the price target on Hawaiian Electric (NYSE: HE) to $11.00 (from $9.00) while maintaining a In Line rating.
The analyst comments "HEs resolution of its going concern risk alleviates a financing timeline crunch. Management had initially planned on paying the settlement up front and, in the second quarter 2024, took a $1.7 billion (estimated lump sum amount) charge for the settlement, resulting in that amount of short-term liability. This created a scenario where HE needed to raise $1.7 billion in financing before its March 3, 2025 deadline to file its 2024 annual... More
