Xcel Energy price target lowered to $89 from $93 at UBS

UBS lowered the firm’s price target on Xcel Energy (XEL) to $89 from $93 and keeps a Buy rating on the shares. The firm remains a buyer of shares based on top-quartile EPS growth of 9%+ and upcoming catalysts that could improve valuation, with the stock now implying sub-7% growth after recent underperformance, the analyst tells investors in a research note. Wildfire and regulatory concerns appear overly discounted, UBS says.