Xcel Energy price target raised to $86 from $84 at BofA

BofA raised the firm’s price target on Xcel Energy (XEL) to $86 from $84 and keeps a Buy rating on the shares. The firm said the company’s1Q26 earnings per share will benefit from higher electric and gas sales, capital rider revenues, higher rates, and allowance for funds used during construction earnings. These benefits will be offset by weaker weather, higher depreciation, interest and property tax expense, and equity dilution, the analyst tells investors in a research note.