WEC Has Better Than Expected 2Q

Wisconsin Energy Corporation (NYSE: WEC) reported 2Q EPS of $0.74 vs. Wunderlich's estimate of $0.68 and last year's report of $0.53.

WEC has increased guidance for 2010 EPS to $3.70-3.75 from $3.60-3.70, and for 2011 the company offers guidance of $4.10-4.20 vs. $4.00 previously.

Wunderlich maintains its "hold" rating and increases its price target to $55 over $48.

Wisconsin Energy Corporation closed yesterday at $54.83.