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Tuesday, Aug 20
Buying opportunity in Northeast Utilities, Wellington says
- Wellington sees a buying opportunity in Northeast Utilities (NU +1.2%) given the company's growth potential and recent weakness in the shares.
- The firm thinks NU's planned $1.4B Northern Pass transmission line in New Hampshire will prevail because ISO New England needs the hydro power the line will carry.
- The firm believes recent yields point to an ultimate base return on equity in the
10.5%-10.7% range when a final decision is rendered, possibly in Q2 2014.