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BofA upgrade Southwest Gas to Neutral, says Centuri transaction removes overhang

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Summary
Nutrition label

89% Informative

BofA analyst Ross Fowler upgraded Southwest Gas (SWX) to Neutral from Underperform with a price target of $ 74 , up from $ 69 .

Southwest completed a 9 M share secondary offering of a portion of their ownership in Centuri , along with a $ 50 M private placement of shares to Icahn Investors .

Southwest will receive about $225M in net proceeds, taking care of 2025-2026 equity needs.

VR Score

89

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88

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68

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formal

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English

Language complexity

73

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medium-lived

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