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BKH - Black Hills News Story

$70.59 0.4  0.5%

Last Trade - 9:10pm

Sector
Utilities
Size
Large Cap
Market Cap £3.20bn
Enterprise Value £6.01bn
Revenue £1.23bn
Position in Universe 1506th / 6851

BUZZ-Black Hills: Falls as Mizuho downgrades to 'neutral', cuts PT

Wed 3rd March, 2021 6:02pm
** Shares of electric and gas utility  BKH.N  fall 1% to
$59.49
    ** Brokerage Mizuho Securities cuts BKH to "neutral" from
"buy" based on increased leverage from winter storm Uri
    ** Mizuho also cuts PT on BKH to $60 from $66
    ** Mizuho believes BKH may need to take credit-supportive
measures in order to maintain its bond ratings at Baa2/BBB+
    ** Co last month said natural gas costs were ~$600 mln
higher than forecast base load for February, due to historic
cold temperatures across central U.S.  urn:newsml:reuters.com:*:nFWN2KV0IU
    ** BKH is also engaged with regulators to identify
appropriate recovery periods over which to recover costs
associated with winter event
    ** Expect heightened scrutiny of surge in fuel costs across
multiple jurisdictions - Mizuho    
    ** 6 of 8 brokerages rate stock "buy" or higher and 2
"hold"; their median PT is $71 - Refinitiv IBES

 (Reporting by Arunima Kumar in Bengaluru)
 ((Arunima.Kumar@thomsonreuters.com))
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