In a report published earlier today, Morgan Stanley reiterates an Overweight rating for Xcel Energy 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.
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