7/102 sources · 2 publishersUpdated Oct 8, 23:30 UTC
Black Hills receives Google data‑center contract and rating upgrade
Black Hills Corp announced definitive agreements to supply power for Google’s planned data center in Cheyenne, Wyoming. The deal runs from September 30 2026 through 2048 and calls for $1.8 billion of company‑owned gas‑fired generation to be built between 2027 and 2029. Freedom Broker responded by raising its rating to Buy and lifting its price target to $78 from $69.
Why it matters
Freedom Broker says the contract improves revenue visibility and removes execution risk, which could support higher dividends and share‑price appreciation. The analyst notes the new price target implies about 10% upside from the current level.
Key facts
- 1The agreements become effective on September 30 2026 and remain in force until 2048. investing.com
- 2The package includes $1.8 billion of gas‑fired generation to be constructed in 2027‑2029. investing.com
- 3Black Hills projects roughly $150 million of net income from the project in 2030. investing.com
- 4The company expects about $2.4 billion of cumulative unlevered free cash flow through 2048 after capital expenditures. investing.com
- 5Freedom Broker upgraded the rating to Buy and increased the price target to $78, up from $69. investing.com
- 6Following the news, Black Hills shares rose to $76.24. investing.com
Summary written by AlphAI from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.