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A report from Bank of America reiterates its Buy rating and $28 price target on Xcel Energy
XEL.
The report states, “XEL is one of the highest quality, lowest risk regulated utilities in our coverage universe. With above average expected LT earnings growth of 5-7% predicated on 6-7% rate base growth, and an expected dividend growth rate of 3%, it is easy to like the XEL story in our view. XEL is trading at a 7% discount to the large cap regulated peers, and we expect this gap to narrow over time.”
XEL closed yesterday at $26.19.
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