Goldman Sachs maintains a Buy rating on Eversource Energy ($78 PT) following an NDR that highlighted a clear path to resolving regulatory hurdles and strengthening the balance sheet.
Key Takeaways
- 1.Maintained Buy rating on Eversource Energy with a $78 price target, citing a significant valuation discount to peers and pending regulatory clarity.
- 2.The FERC proceeding on transmission base ROEs is a critical catalyst, with management seeking an 11.39% rate and settlement potential.
- 3.State regulatory environments in CT, NH, and MA are showing signs of improvement and constructiveness, aiding balance sheet de-risking.
Table of Contents
- Valuation and Key Risks
- Disclosure Appendix
- Reg AC
- GS Factor Profile
- M&A Rank
- Quantum
- Disclosures
- Company-specific regulatory disclosures
- Distribution of ratings/investment banking relationships
- Price target and rating history chart(s)
- Target price history table(s)
- Regulatory disclosures
- Disclosures required by United States laws and regulations
- Additional disclosures required under the laws and regulations of jurisdictions other than the United States
- Ratings, coverage universe and related definitions
- Global product; distributing entities
- General disclosures
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Authors
Carly DavenportBeatriz AbreuJaya Patel
Securities
ESAquarion
Themes
Regulatory De-riskingBalance Sheet Management
Regions
North AmericaUnited States