** Shares of utility firm Hawaiian Electric down 0.4% at $9.41
** Brokerage Jefferies cuts stock PT to $10.50 from $11.50, maintains "hold" rating
** Jefferies says following the sale of 90.1% of American Savings Bank by HE, it has removed assumption of equity issuances in 2025, 2026 and 2027
** "In early January 2025, we expect HE to introduce proposed legislation which resembles a more simplified version of the bills put forward in the 2024 session ... the company intends to focus on a disaster relief fund which would be recovered from ratepayers, potentially through securitization" - brokerage
** In 2024, HE dropped ~31%
(Reporting by Seher Dareen in Bengaluru)
((Seher.Dareen@thomsonreuters.com;))