Maxim Group Initiates a Buy Rating on Otter Tail Corp (OTTR)

By Austin Angelo

Otter Tail Corp (OTTRResearch Report) received a Buy rating and a $60 price target from Maxim Group analyst Tate Sullivan today. The company’s shares opened today at $49.48.

Sullivan observed:

“We forecast growth in EPS, dividends, and return on equity in the next two years due to future income from current utility projects and more growth in OTTR’s other manufacturing and plastics businesses.”

According to TipRanks.com, Sullivan is a 3-star analyst with an average return of 4.7% and a 67.4% success rate. Sullivan covers the Basic Materials sector, focusing on stocks such as Natural Gas Services Group, Emcor Group, and Tetra Tech.

Otter Tail Corp has an analyst consensus of Moderate Buy, with a price target consensus of $60.

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The company has a one-year high of $51.88 and a one-year low of $42.35. Currently, Otter Tail Corp has an average volume of 75.01K.

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Otter Tail Corp. is a holding company, which engages in the energy, infrastructure, and production businesses. It operates through the following segments: Electric, Manufacturing, and Plastics. The Electric segment generates, transmits, and distributes power and electric energy.