UPDATE: Bank of America Initiates Coverage on Sempra Energy at Neutral

Bank of America has published a research report on Sempra Energy (NYSE: SRE) initiating coverage (NYSE: SRE).

In the report, Bank of America wrote, "We like Sempra's long-term growth story driven by its regulated utilities and gas infrastructure segments. However, we think the following weigh on the stock."

Bank of America rated Sempra a Neutral with a price target of $55.00. Sempra closed Thursday at $50.54.