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ONE Gas downgraded at Jefferies on interest rate concerns, Texas uncertainty
Seeking Alpha ·
Seeking Alpha reports: ONE Gas slipped 0.7% in Thursday's trading as Jefferies downgraded the natural gas distribution utility to Hold from Buy with an $80 price target, cut from $103, anticipating headwinds from higher-for-longer interest rates, muted FY 2027 earnings expectations, and uncertainty in Texas. Jefferies analyst Julien Dumoulin-Smith said ONE Gas remains among the higher-quality defensive local distribution companies, well-capitalized and self-funded with healthy credit…