Morgan Stanley raised the firm’s price target on Sempra Energy (SRE) to $93 from $86 and keeps an Overweight rating on the shares after the company announced the sale of a 45% equity interest in Sempra Infrastructure Partners to KKR (KKR) and also announced a positive Final Investment Decision for Port Arthur LNG Phase 2. The firm views yesterday’s news as “positive on several fronts,” including the better-than-expected transaction valuation, the elimination of planned common equity issuances originally in the 2025-2029 financial plan and increased confidence in Sempra beating the high-end of the 7-9% EPS CAGR guidance, the analyst tells investors.
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