Xcel Energy resumed with an Outperform at RBC Capital

RBC Capital analyst Stephen D’Ambrisi resumed coverage of Xcel Energy (XEL) with an Outperform rating and $7 price target With the overhang of the Marshall Fire behind the company, the firm expects investors to underwrite significant capital expenditure upside relating to generation needs, and look for relative premium to expand back to historical levels. The firm anticipates Xcel’s Q3 roll forward will drive their rate base CAGR near 11%.