WEC Energy upgraded to Neutral from Underweight at JPMorgan

JPMorgan analyst Jeremy Tonet upgraded WEC Energy (WEC) to Neutral from Underweight with a price target of $108, up from $106. The firm cites a “de-risked regulatory outlook with a constructive” Wisconsin backdrop for the upgrade. Amid elevated macro uncertainty and a defensive pivot in positioning, WEC’s lack of rate case exposure and supportive WI regulatory environment “screen favorably,” the analyst tells investors in a research note.