UPDATE: Morgan Stanley Raises PT on Xcel Energy

In a report published earlier today, Morgan Stanley reiterates an Overweight rating for Xcel Energy

and raised its price target from $29 to $30. Morgan Stanley commented, “We are reiterating our OW-rating on XEL following investor meetings with management. The meetings supported our view that XEL's low risk profile and large market cap warrant the P/E of a defensive, large cap utility, implying further upside. We are raising our PT to $30, given higher peer multiples.” XEL closed at $28.43 yesterday.