Sempra Energy price target lowered to $84 from $86 at BMO Capital

BMO Capital analyst James Thalacker lowered the firm’s price target on Sempra Energy to $84 from $86 but keeps an Outperform rating on the shares. The firm is cutting its Q2 EPS view to 89c from 98c due to the absence of tax benefits and regulatory awards at SoCalGas and a net lower contribution from Sempra Infrastructure Partners, the analyst tells investors in a research note. BMO adds however that it remains positive on Sempra’s high-quality infrastructure portfolio, with core positions in the attractive South Central/Southwest markets of North America.