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Benzinga

Business

Priya Nigam

BofA Upgrades Southwest Gas After Share Issuance

Southwest Gas Holdings BofA Securities NYSE Southwest Gas Holdings Inc Julien DumoulinSmith

Southwest Gas Holdings Inc (NYSE:SWX) has announced the issuance of 5.5 million shares of common stock at a public offering price of $74 per share plus a 30-day underwriters’ option to purchase another 825,000 shares or around $468 million in gross proceeds, according to BofA Securities.

The Southwest Gas Holdings Analyst: Julien Dumoulin-Smith upgraded the rating for Southwest Gas Holdings from Neutral to Buy, while keeping the price target at $88.

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