UPDATE: Morgan Stanley Raises PT on Xcel Energy
In a report published earlier today, Morgan Stanley reiterates an Overweight rating for Xcel Energy (NYSE: XEL) and raised its price target from $29 to $30.
Morgan Stanley commented, “We are reiterating our OW-rating on XEL following investor meetings with management. The meetings supported our view that XEL's low risk profile and large market cap warrant the P/E of a defensive, large cap utility, implying further upside. We are raising our PT to $30, given higher peer multiples.”
XEL closed at $28.43 yesterday.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.