WEC Energy price target raised to $93 from $91 at BMO Capital

BMO Capital analyst James Thalacker raised the firm’s price target on WEC Energy to $93 from $91 and keeps a Market Perform rating on the shares. Intervenors including the Public Service Commission of Wisconsin staff this week filed their testimony in the WPS E&G, Wisconsin Electric Power Company E&G, and WG rate case, and the staff supported a $596M total rate increase, or 72% of the combined request including an unchanged equity layer and modestly lower return on equity, the analyst tells investors in a research note.