UPDATE: Jefferies Cuts PT to $29.50 on Xcel Energy

Jefferies lowers its price target from $30.50 to $29.50 on Buy-rated Xcel Energy

on lower Q1 earnings due to mild weather. Jefferies says, "We are reducing our 1Q12 EPS estimate by $0.05 to $0.35 due to warm winter weather. Xcel is still guiding to the lower end of its 2012 earnings guidance of $1.75-$1.85." XEL closed at $26.15 on Thursday.