UPDATE: Morgan Stanley Raises PT on Sempra Energy on Increased Value of its LNG Export Business
In a report published Tuesday, Morgan Stanley analyst Stephen C. Byrd maintained an Overweight rating on Sempra Energy (NYSE: SRE) and increased the price target from $87 to $93.
In the report, Morgan Stanley cited that, “We are increasing our Price Target for Sempra from $87 to $93 by factoring in (1) the value of Sempra's Mexican business established in the IEnova IPO, and (2) the full present value of its LNG export business, which we expect will receive DOE approval in 2013.”
Sempra Energy closed Monday at $80.69.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.