MGE Energy price target raised to $74 from $71 at Morgan Stanley

Morgan Stanley raised the firm’s price target on MGE Energy to $74 from $71 and keeps an Underweight rating on the shares. In August, Regulated & Diversified Utilities / IPPs in North America outperformed the S&P’s +2.43% return by 238 bps, the analyst tells investors. With interest rates declining, a potential economic slowdown ahead, and expected data center updates, the firm believes the industry could outperform by approximately 5% but notes the sector’s mixed performance in previous soft landings.