In a report published Tuesday, Deutsche Bank analyst Jonathan Arnold initiated coverage on Wisconsin Energy Corporation WEC with a Hold rating and $42.00 price target.
In the report, Deutsche Bank noted, “We are initiating coverage of Wisconsin Energy with a Hold rating and $42 price target. Through 2015, we expect WEC to deliver EPS growth of 5% per year on average, in line with regulated utility peers, and well above average dividend growth of about 11% per year given a below average current payout ratio and strong free cash flow. While WEC is a well-run utility, operating in a constructive regulatory environment, with an enviable cash flow outlook, we believe the stock is fairly valued at current levels.”
Wisconsin Energy Corporation closed on Monday at $40.29.
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