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          "recommendation": "HOLD",
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            "Valuation appears fair relative to peers."
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            "Higher-for-longer interest rates increasing debt servicing costs.",
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            {
              "driver": "Clean Energy Infrastructure Investments",
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              "direction": "POS"
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            {
              "driver": "Weather Normalization",
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              "direction": "POS"
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          ],
          "method_notes": "Valuation based on a 16.5x forward P/E multiple applied to normalized earnings, supported by a DCF model (6.5% WACC). The ~4% upside to our 12M target of $86 warrants a HOLD rating as shares appear fairly valued. Not investment advice.",
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            "High debt load (D/E 1.1x) poses a headwind if interest rates remain elevated."
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