Avangrid Inc

AGR: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$46.43	Tshks	Whmhwhrg

Avangrid: New Mexico Supreme Court Decision Another Hurdle to PNM Acquisition

Andrew Bischof

May 16, 2023

We are maintaining our $39 per share fair value estimate for Avangrid after the New Mexico Supreme Court denied a motion to dismiss the regulatory denial of Avangrid's proposed acquisition of PNM Resources. Our narrow moat rating and Medium Uncertainty Rating remain unchanged.

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