WEC Energy resumed with a Sector Perform at RBC Capital

RBC Capital analyst Stephen D’Ambrisi resumed coverage of WEC Energy (WEC) with a Sector Perform rating and $131 price target As one of the best-run utilities in the space over the past 20 years, WEC has earned a well-deserved premium, the analyst tells investors in a research note. The firm believes, however, the expectations for a CAGR increase are “very high,” that much of the benefit of incremental capital and load growth will be concentrated at the very tail end of the next five year plan, and that the potential growth gap between WEC and other high growth, premium utility options is shrinking.