Evercore ISI analyst Durgesh Chopra lowered the firm’s price target on Sempra Energy to $83 from $165 to reflect the 2:1 stock split and the firm’s lower 2023-2025 EPS estimates and keeps an Outperform rating on the shares. Given the year-to-date underperformance, the firm is more constructive on the Power & Utilities group and likes the risk/reward into 2024 and long term. However, in the near-term, fundamentals remain challenging and regulatory risks have been rising throughout the year so the firm prefers to stay on the sidelines and look for these headwinds to abate, the analyst tells investors in a preview note.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on SRE:
- Sempra Energy president Kevin Sagara to resign
- Sempra Energy price target lowered to $76 from $86 at Guggenheim
- Sempra Infrastructure unit receives FERC authorization at Port Arthur LNG
- Sempra Energy price target raised to $78 from $76 at Morgan Stanley
- ConocoPhillips announces long-term pact for European regas capacity