Wells Fargo raises PT on US utility firms

Public Service Enterprise Incorporated

16/10/2024 13:31

** Wells Fargo raises price target on utility cos on growing
investor recognition that electric utilities are key enablers of
the AI infrastructure build-out
    ** Brokerage says that the somewhat lower and more stable
rate environment has left the power industry on firmer footing
    ** Sees data centers as a key focus for long-term discussion
on both their opportunities and risks
    ** Adds "resiliency and storm preparation will also be a
theme in light of the unfortunate frequency of catastrophic
weather events"
    Brokerage raises PT on the following firm:
 Company            New PT      Old PT      Rating
 Atmos Energy Corp  $156        $145        Overweight
  ATO.N                                     
 NiSource Inc       $38         $35         Overweight
  NI.N                                      
 Alliant Energy     $66         $62         Overweight
 Corp  LNT.O  .                             
 American Electric  $104        $98         Equal Weight
 Power Company                              
  AEP.O                                     
 Centerpoint        $32         $28         Equal Weight
 Energy  CNP.N                              
 CMS Energy Corp    $77         $70         Overweight
  CMS.N                                     
 Evergy Inc         $69         $65         Overweight
  EVRG.O                                    
 Public Service     $100        $85         Overweight
 Enterprise Group                           
  PEG.N                                     
 TXNM Energy        $49         $46         Overweight
  TXNM.N                                    
 NorthWestern       $61         $58         Overweight
 Energy Group                               
  NWE.O                                     
 Xcel Energy        $66         $63         Equal Weight
  XEL.O                                     
 

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