Moody’s lowers Otter Tail Corporation’s utility subsidiary credit rating due to higher spending and increased borrowing. Despite this, the outlook remains stable following strong Q2 results beating expectations. Otter Tail reported diluted EPS of $1.85 and revenue of $333.04 million, driving a 6.14% share price increase to $76.22. The company focuses on renewable energy projects and strategic investments in manufacturing.

Otter Tail Corporation engages in electric utility, manufacturing, and plastic pipe businesses. It is considered one of the Best Diversified Stocks. While OTTR shows investment potential, some AI stocks may offer greater upside potential and lower downside risk. For those interested in an undervalued AI stock benefiting from various trends, check out the free report on the best short-term AI stock.

Read more at Yahoo Finance: Moody’s Lowers the Credit Rating of Otter Tail Corporation (OTTR) ’s Utility Subsidiary, Otter Tail Power Company