NorthWestern Energy upgraded at Wells Fargo as merger creates more diversified utility

What happened: Wells Fargo upgraded NorthWestern Energy (NWE) to Overweight from Equal Weight, citing the proposed merger with Black Hills (BKH) as creating a more diversified utility. Key numbers: Price target raised to $90 from $70. NWE gained 0.6% in Monday's trading. Why it matters: The upgrade reflects the analyst's view that the proposed merger will produce a more diversified utility.

Wells Fargo upgraded NorthWestern Energy (NWE) to Overweight from Equal Weight, citing the proposed merger with Black Hills (BKH) as creating a more diversified utility.

The upgrade reflects the analyst's view that the proposed merger will produce a more diversified utility.