RBC Capital analyst Stephen D'Ambrisi initiated coverage of NiSource with an Outperform rating and $52 price target. NiSource offers "a rare combination" of above-peer EPS growth and "a uniquely favorable data center setup in Indiana," which the firm believes is not yet fully reflected in the stock, the analyst tells investors. The premium over peers should expand, driven by an EPS growth advantage, Indiana's position as "one of the most attractive data center markets in the Midwest," and a structure that helps to insulate NIPSCO from the affordability pressures increasingly weighing on regional peers, the analyst contends.
