Xcel Energy price target raised to $80 from $78 at Mizuho

Mizuho analyst Anthony Crowdell raised the firm’s price target on Xcel Energy (XEL) to $80 from $78 and keeps an Outperform rating on the shares. With four theories about what caused the Marshall fire, there is a high bar for a jury to rule unanimously that Xcel equipment caused the fire and the utility was negligent in its operation, the analyst tells investors in a research note. The firm says later this week jury selection will begin in Colorado for the 2021 Marshall fire. It cites current market multiples for the target increase.