Scotiabank raised the firm’s price target on WEC Energy (WEC) to $129 from $115 and keeps an Outperform rating on the shares. The firm expects regulated utility stocks to continue to struggle in the near term as rising investor sentiment continues to be tougher to fight, the analyst tells investors. The firm remains bullish on the underlying backdrop, with demand for electricity accelerating, but few utilities are converting these opportunities into upside to EPS.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on WEC:
- WEC Energy price target raised to $129 from $115 at Scotiabank
- WEC Energy Group Positioned for Growth with Datacenter Expansion and Regulatory Support
- WEC Energy initiated with a Buy at Citi
- WEC Energy Group: Hold Rating Amid Capital Expenditure Uncertainties and Modest Valuation Upside
- WEC Energy Group Highlights Strategic Initiatives and Growth