BofA analyst Julien Dumoulin-Smith lowered the firm’s price target on WEC Energy to $75 from $78 and keeps an Underperform rating on the shares. The Public Service Commission of Wisconsin lost two of three members in “a matter of days,” notes the analyst, who sees the commission moves “ratcheting up the uncertainty” for WEC. The firm has tweaked lower its 2023 estimate to reflect mild December weather, though notes that WEC issued an 8-K in January that had an expectation of reaching the upper end of its $4.58-4.62 range for the full year on an adjusted basis.
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