WEC upgraded to Neutral at BofA after ‘constructive’ Wisconsin rate case outcome

As previously reported, BofA upgraded WEC Energy (WEC) to Neutral from Underperform with a price target of $98, up from $90, to reflect the “constructive” outcome in the recently completed Wisconsin rate case, strong demand growth in Wisconsin, WEC’s “robust” capital spending plan, strong balance sheet and performance record. While the firm continues to watch regulatory proceedings in Illinois, it also notes the “diminishing impact these have on results.”