Jefferies analyst Julien Dumoulin-Smith lowered the firm’s price target on Sempra Energy (SRE) to $75 from $77 and keeps a Hold rating on the shares. At the end of March, Sempra formalized their previously announced plan to sell another minority interest in Sempra Infrastructure, notes the analyst, who sees a SIP asset sale as providing needed credit support, but not being accretive under the firm’s assumptions. Lower multiples for the SIP assets is the primary driver of a lower valuation, noted the analyst.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SRE:
- Citi cuts Sempra Energy target, opens ‘upside catalyst watch’
- Strategic Divestments and Utility Focus: Justifying Sempra Energy’s Buy Rating
- Sempra Energy price target raised to $86 from $85 at Morgan Stanley
- Sempra Energy CAO Wall sells 8,192 common shares
- Sempra Energy downgraded to Hold at Argus with 2025 seen as ‘rebuilding period’