Eversource Energy Takes One Big Step Back But Several Steps Forward
We are reaffirming our $53 fair value estimate and no-moat and stable moat trend ratings for Eversource Energy after its Northern Pass transmission project hit a key regulatory road block. We continue to believe Eversource can hit management's 5%-7% earnings and dividend growth target given several positive developments in recent months, but Northern Pass uncertainty could lead toward the lower end of that range.Remarkably, just when we thought the $1.6 billion Northern Pass project was a sure ...
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