Ladenburg Thalmann Starts Hawaiian Electric (HE) at Sell
Ladenburg Thalmann analyst Paul Fremont initiates coverage on Hawaiian Electric (NYSE: HE) with a Sell rating and a price target of $7.00.
The analyst comments "We are initiating coverage on Hawaiian Electric Industries, Inc. with a SELL rating and a price target of $7.00. The company provides electric power to approximately 95% of Hawaii’s population. Consolidated utility earned ROE drastically under-earns the 9.5% authorized ROE throughout our forecast period, with 2026 coming in at 5.8% ROE and plateauing at 8.1% post-rebasing in 2028. Compounding this with the need to fund the remaining $1.437 billion in Maui wildfire settlement obligations through debt and equity will dilute per-share value, driving down EPS from $0.85 in 2027 to $0.70 by 2030."
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Shares of Hawaiian Electric closed at $11.09 yesterday.