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Investing.com - DA Davidson has reiterated its Buy rating and $77.00 price target on Eversource Energy (NYSE:ES), currently trading at $61.71 with a market cap of $22.9 billion, following recent developments with the Revolution offshore wind project. According to InvestingPro data, the stock trades with characteristically low volatility, with a beta of 0.62.
The reaffirmation comes after Orsted disclosed on August 22 that it received instructions from the U.S. Department of Interior to halt offshore work on the Revolution project.
DA Davidson analyst William Appicelli noted that this work stoppage does not represent a project cancellation, and believes the project could still meet its second half of 2026 start-up goal despite potential delays.
The timeline will ultimately depend on how quickly the Bureau of Ocean Energy Management (BOEM) concerns can be addressed, according to the analyst’s assessment.
Eversource previously sold the Revolution project along with South Fork to Global Infrastructure Partners (GIP) for $745 million, though the company remains responsible for additional project cost increases for Revolution, which is being constructed by former 50% partner Orsted. For a comprehensive analysis of Eversource’s financial health and 8 additional key insights, visit InvestingPro.
In other recent news, Eversource Energy reported its Q2 2025 earnings, revealing an earnings per share (EPS) of $0.96, which aligned with analysts’ expectations. However, the company experienced a revenue shortfall, reporting $2.84 billion compared to the anticipated $2.96 billion, marking a 4.05% miss. This revenue miss has raised concerns among investors, despite the stable EPS performance. There were no significant mergers or acquisitions reported. Analyst activity around Eversource Energy did not include any notable upgrades or downgrades. These developments are part of the company’s recent financial disclosures. The information provides insight into Eversource Energy’s current financial standing and market perception.
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