BofA sees demand growth to drive investor interest in utilities

Ameren

29/08/2024 13:29

** BofA Global Research expects utilities sector to perform
well through the remainder of the year
  ** Brokerage points to rate cuts prospects, the defensive bias
of the market in the second half of the year and likely positive
business updates around the time of Q3 earnings reports as
reasons behind optimism   
  ** Says that demand growth continues to grab attention of
investors while the need for infrastructure investment, rising
cost of power will dominate conversations in and around the
sector through year-end
    
 Brokerage also changes PT of the following companies:
 Company                               New PT      Old PT
 Ameren Corp  AEE.N                    87          86
 American Electric Power  AEP.O        98          97
 Constellation Energy  CEG.O           208         201
 CMS Energy  CMS.N                     73          69
 DTE Energy  DTE.N                     136         131
 Duke Energy Corp  DUK.N               118         116
 Eversource Energy  ES.N               68          67
 Entergy Corp  ETR.N                   138         135
 FirstEnergy Corp  FE.N                43          42
 Alliant Energy Corp  LNT.O            63          62
 NextEra Energy  NEE.N                 81          77
 Public Service Enterprise Group       88          84
  PEG.N                                            
 PPL Corp  PPL.N                       34          33
 Southern Company  SO.N                87          86
 TXNM Energy Inc  TXNM.N               48          47
 WEC Energy Group  WEC.N               90          88
    
 
 

 (Reporting by Pooja Menon in Bengaluru)
 ((Pooja.Menon@thomsonreuters.com))