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Northeast Utilities downgraded at Credit Suisse on lack of clarity

Feb. 13, 2015 12:59 PM ETEversource Energy (ES) StockESBy: Carl Surran, SA News Editor2 Comments
  • Northeast Utilities (NU -2.7%) is downgraded to Neutral from Outperform with a $56 price target at Credit Suisse, following Q4 earnings results that beat estimates but lowered earnings clarity for several months into 2015.
  • With NU's updated and extended 6%-8% growth rate, including the Northern Pass Transmission and Access Northeast projects, the firm says its estimates have retrenched modestly, and the timeline to finding confidence that these projects convert into expected earnings now extends over much of 2015.
  • Credit Suisse says it likes NU's strategy but prefers other high growth utilities that offer arguably better visibility today.

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