** Jefferies says after shares of power companies were down almost 20% on Monday, hurt by emergence of low-cost Chinese artificial intelligence model DeepSeek, investor confidence is shaken
** Brokerage adds that post tech selloff, it sees merit from integrated utilities over transmission and distribution utilities
** Expects positive developments from Exelon EXC.O, Southern Co SO.N, PPL PPL.N and pipelines of data centers to be under even greater scrutiny for each company
** "How companies are updating and refreshing the data center pipeline (given the new DeepSeek uncertainty) vs containing stale data will provide insights into the confidence across the board," brokerage says
Brokerage changes PT on the following firms:
Company | New PT | Old PT | Upside/downside to stock's last close |
Avista AVA.N | $39 | $40 | 5.8% |
Eversource Energy ES.N | $47 | $52 | 19.3% downside |
Idacorp IDA.N | $118 | $129 | 5% downside |
ONE Gas OGS.N | $76 | $79 | 7.6% |
Pinnacle West PNW.N | $104 | $106 | 18.8% |
Portland General Electric POR.N | $42 | $47 | 1% downside |
(Reporting by Pooja Menon in Bengaluru)
((Pooja.Menon@thomsonreuters.com;))
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