BMO Capital lowered the firm’s price target on Sempra Energy (SRE) to $100 from $103 and keeps an Outperform rating on the shares after the company’s subsidiary SoCalGas issued a statement defending its conduct in response to a lawsuit filed last week by Edison International (EIX). The stock had fallen 7% since Friday close, but the firm believes this pullback as an overreaction given the initial Eaton damage estimates/accounting for the 12+ other cross-defendants, the analyst tells investors in a research note.
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Read More on SRE:
- Sempra Energy price target lowered to $92 from $98 at UBS
- Sempra Energy price target lowered to $97 from $98 at Barclays
- SoCalGas Addresses Edison Cross-Claims in Eaton Fire Litigation
- Sempra Energy price target raised to $95 from $91 at Morgan Stanley
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