WEC Energy price target raised to $90 from $88 at BofA

BofA raised the firm’s price target on WEC Energy to $90 from $88 and keeps an Underperform rating on the shares. The firm is optimistic the U.S. Power and Utilities sector will perform well through the remainder of the year due to the market typically taking a more defensive bias in the second half, prospects for rate cuts, and likely positive business updates during Q3 earnings reports, the analyst tells investors.