Morgan Stanley analyst David Arcaro lowered the firm’s price target on Atmos Energy (ATO) to $143 from $145 and keeps an Overweight rating on the shares. Utilities underperformed the S&P’s -0.91% return in October, leading the firm to adjust the price targets of several stocks in its North America Regulated & Diversified Utilities / IPPs coverage, the analyst tells investors. From recent meetings at the EEI Financial Conference, the firm came away incrementally negative on California, given its increased regulatory and political risk as well as its relatively limited data center growth.
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Read More on ATO:
- Atmos Energy Reports Strong Fiscal 2024 Earnings
- Atmos Energy raises quarterly dividend to 87c per share
- Atmos Energy reports FY24 EPS $6.84, consensus $6.80
- Atmos Energy sees FY25 EPS $7.05-$7.25, consensus $7.13
- Is ATO a Buy, Before Earnings?
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
