Why Hawaiian Electric Industries Shares Are Rocketing Today
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jul 19 2024
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Source: Benzinga
Settlement Agreement: Hawaiian Electric Industries has tentatively agreed to a settlement plan exceeding $4 billion to resolve lawsuits related to the Maui wildfires, with the company responsible for approximately $1.5 billion of this amount.
Stock Performance: Following the news of the settlement, shares of Hawaiian Electric surged by 32.9%, reaching $16.94, although the deal is still pending final approval and could potentially fall through.
Analyst Views on FYT
Wall Street analysts forecast FYT stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for FYT is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 61.592
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Current: 61.592
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
