Scotiabank sees US utilities as hedge, raises price targets

Alliant Energy

16/12/2025 11:43

** Scotiabank raises price target on U.S. utilities as they provide a hedge against a potential downturn that other AI-focused sectors lack

** "We expect another year of solid returns in 2026, particularly for power stocks and U.S. utilities with meaningful data center exposure" - brokerage

** Brokerage adds that several companies have been guiding to accelerating earnings/share growth thanks to rapidly-rising capex forecasts, but the pace is slower than that of the S&P 500, and utilities are not seeing positive estimate revisions like the market is

Company
Old PT
New PT
% upside/downside to stock's last close
NextEra Energy NEE.N
$99
$102
~25%
CenterPoint Energy CNP.N
$45
$49
28.2%
FirstEnergy FE.N
$51
$55
23.3%
Eversource Energy ES.N
$63
$66
-3.5%
Duke Energy DUK.N
$137
$146
25%
American Electric Power AEP.O
$121
$131
13.1%
WEC Energy WEC.N
$130
$140
33%
Alliant Energy LNT.O
$67
$72
~10%

 (Reporting by Dharna Bafna in Bengaluru)

 ((Dharna.bafna@thomsonreuters.com))