Sempra Energy price target raised to $113 from $112 at Wells Fargo

Wells Fargo raised the firm’s price target on Sempra Energy (SRE) to $113 from $112 and keeps an Overweight rating on the shares. After the print, in the firm’s view, there is no question that Oncor is the most valuable asset in the utility sector – new capex plan now supports a 17% rate base CAGR. Moving pieces strengthen Wells’ best idea Overweight thesis.