Jefferies lowered the firm's price target on Hawaiian Electric to $11.75 from $13.75 and keeps an Underperform rating on the shares. Hawaii approved the process for resetting the utility's revenues, but not the amount, with that decision expected in mid to late April 2027, the analyst tells investors. Hawaiian Electric is "a post-wildfire recovery story," but the market "has paid for the recovery before the open questions are resolved," the analyst added.
