Morgan Stanley downgraded Xcel Energy XEL from Overweight to Equal-weight and lowers the price target from $30.00 to $28.00.
Morgan Stanley said, "XEL trades at ~14.0x our 2014e EPS compared to the 14.5x multiple of its large cap regulated peers. Given an average dividend yield and strong ~5% EPS growth, offset by concerns emerging in the Minnesota jurisdiction, we believe shares should trade more in-line."
Xcel Energy closed at $26.91 on Wednesday.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in