MGE Energy price target lowered to $74 from $75 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on MGE Energy (MGEE) to $74 from $75 and keeps an Underweight rating on the shares. The firm is updating its price targets for stocks in the Regulated & Diversified Utilities / IPP North America sector under its coverage, the analyst tells investors. Utilities continue to see strong interest from both data centers and large load customers, the firm notes. Additionally, management teams believe any changes to the IRA are manageable, with many companies with safe harboring in place, the firm adds.