Bank of America Maintains Buy Rating and $28 PT on Xcel Energy - Xcel Energy (NASDAQ:XEL)

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A report from Bank of America reiterates its Buy rating and $28 price target on Xcel Energy (NYSE: XEL).The report states, “XEL is one of the highest quality, lowest risk regulated utilities in our coverage universe. With above average expected LT earnings growth of 5-7% predicated on 6-7% rate base growth, and an expected dividend growth rate of 3%, it is easy to like the XEL story in our view. XEL is trading at a 7% discount to the large cap regulated peers, and we expect this gap to narrow over time.”XEL closed yesterday at $26.19.

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