Xcel Energy price target raised to $94 from $90 at BMO Capital

BMO Capital raised the firm’s price target on Xcel Energy (XEL) to $94 from $90 and keeps an Outperform rating on the shares ahead of its Q1 results. The firm expects investors to be focused on the company’s regulatory calendar with the Minnesota Electric ALJ expected at the end of April and intervenor testimony due in the CO electric case ahead of the call, the analyst tells investors in a research note. XCEL’s footprint gives it access to one of the most renewables-rich regions in the U.S., the firm added.