Deutsche Bank Upgrades Northeast Utilities (NU) to Buy; Better Positioned Post-Merger

Deutsche Bank upgraded Northeast Utilities (NYSE: NU) from Hold to Buy with a price target of $39.00 (from $36.50).

Deutsche analyst said, "We upgrade NU to Buy and raise our PT as we introduce our new outlook following NU's recent merger with NSTAR. We see an attractive entry point into a stock that offers above average LT EPS and DPS growth, below average regulatory risk (no rate cases until 2014), and no need for new equity in the near-term. Despite being a larger and arguably better positioned company post-merger, NU is currently trading at a 4% discount to peers. With this report we transfer lead coverage to Caroline Bone."

For an analyst ratings summary and ratings history on Northeast Utilities click here. For more ratings news on Northeast Utilities click here.

Shares of Northeast Utilities closed at $36.21 yesterday.

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