DA Davidson Raises Target to $27 on Xcel Energy
DA Davidson maintains its Neutral rating on Xcel Energy (NYSE: XEL) and raises its price target to $27, up $1, as it rolls its forecast into 2013. The Company expects to post modest growth when it unveils its fourth quarte results on February 2nd, despite possible drag from weather.
DA Davidson notes, "Xcel Energy is scheduled to report 4Q'11 earnings on Thursday, February 2nd before the market opens. A conference call with management will be held on the same day at 11:00 AM ET/8:00 AM PT. Mild weather creates downside risk. Unusually mild temperatures across much of the nation likely reduced heating demand by utility customers in 4Q'11. While temperatures (measured by heating-degree days) in Xcel's Colorado territory were near normal and 17% colder than 4Q'10, Minnesota and Wisconsin were 15%-20% warmer than normal and what was recorded in the prior year."
XEL closed at $26.98 a share on Friday.
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