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Zacks Reaffirms Neutral Rating on Northeast Utilities System (NU)

20 Jun

Northeast Utilities System (NYSE: NU)‘s stock had its “neutral” rating reiterated by Zacks in a note issued to investors on Friday. They currently have a $39.00 target price on the stock.

Zacks’ analyst wrote, “Northern Utilities’ first quarter earnings and revenue fell short of Zacks Consensus Estimates. The decline was primarily due to a soft winter and higher pension expenses. Despite the miss, we expect the company to benefit from the combined operations with NSTAR and its continued cost control efforts. We like Northeast Utilities’ low-risk and strong long-term growth potential along with the steady hike in dividends. However, potential delays in the regulated transmission projects and possibility of a decline in demand due to weather fluctuations could weigh on the stock. Hence, we retain our Neutral recommendation.”

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Posted by on June 20, 2012 in Uncategorized

 

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