KeyBanc raised the firm’s price target on WEC Energy (WEC) to $123 from $110 and keeps an Overweight rating on the shares. The firm notes WEC is led by a strong management team that has demonstrated an ability to execute on its plan and consistently deliver near the top of its guidance range. The WI regulatory jurisdiction has historically been constructive, and the state offers solid growth prospects. Given its operational execution and confidence in the narrow long-term growth rate, KeyBanc believes WEC continues to warrant a premium relative to peers.
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