Mizuho analyst Anthony Crowdell lowered the firm’s price target on WEC Energy to $88 from $98 and keeps a Buy rating on the shares. Last Thursday, the Illinois Commerce Commission made final decisions in four gas rate cases, providing them with below national average returns on equity and average equity ratio, the analyst tells investors in a research note. The firm revised utility price targets to account for current market multiples.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on WEC:
- WEC Energy price target lowered to $84 from $85 at Ladenburg
- Investors to react negatively to Illinois gas rate case rulings, says UBS
- WEC Energy price target lowered to $90 from $104 at Wells Fargo
- WEC Energy projects complete exit from coal by the end of 2032
- WEC Energy Group reports third-quarter results