MGE Energy price target lowered to $75 from $80 at Morgan Stanley

Morgan Stanley analyst David Arcaro lowered the firm’s price target on MGE Energy (MGEE) to $75 from $80 and keeps an Underweight rating on the shares. The firm is updating its price targets on Regulated & Diversified Utilities / IPPs in North America, the analyst tells investors. Utilities outperformed the S&P in March, the firm adds. Heading into Q1, the quarter represents a “quiet quarter” without meaningful financial updates, so key focus areas will likely be tariff risk, Morgan Stanley says.