Xcel Energy price target raised to $83 from $80 at Mizuho

Mizuho raised the firm’s price target on Xcel Energy (XEL) to $83 from $80 and keeps an Outperform rating on the shares. The Marshall wildfire settlement is a “clear positive,” the analyst tells investors in a research note. The firm says Xcel’s current 5% valuation premium should go to 7%-9% premium given that investors get 6%-8% annual earnings growth. Since Texas courts are not adversarial to energy companies, Xcel should have only a limited overhang from the Smokehouse Creek fire, contends Mizuho.