BofA upgrades Southwest Gas to Neutral, sees balanced risk/reward profile, Centuri transaction removes overhang

From Yahoo Finance: 2025-05-24 08:45:00

BofA analyst Ross Fowler upgraded Southwest Gas (SWX) to Neutral from Underperform with a price target of $74, up from $69. The firm sees a balanced risk/reward profile with initial monetization action taken to reduce the overhang from the pending Centuri (CTRI) separation. Southwest completed a 9M share secondary offering of a portion of their ownership in Centuri, along with a $50M private placement of shares to Icahn Investors, resulting in about $225M in net proceeds for Southwest.



Read more at Yahoo Finance: BofA upgrade Southwest Gas to Neutral, says Centuri transaction removes overhang