topstockalerts
Oct 8, 12:12 AM
Black Hills Corporation announced definitive agreements to supply power to a planned Google data center in Cheyenne, Wyoming, under contracts running from Sept. 30, 2026 through 2048. The deal calls for Black Hills to invest
$1.8 billion in new company-owned natural gas generation, provide up to 590 MW of grid-connected power and manage 2.1 GW of third-party contracted resources through a private microgrid.
Analysts quickly raised their outlook. Freedom Broker upgraded Black Hills from Hold to Buy and lifted its price target from
$69 to
$78, citing long-term revenue visibility from the Google contract. Bank of America raised its target to
$97 and reiterated Buy, arguing that Wall Street is underestimating the scale of Wyoming’s data-center opportunity. The project is estimated to generate about
$150 million in net income by 2030 and roughly
$2.4 billion in unlevered free cash flow over the contract’s life.
$BKH $NWE
