Wells Fargo upgrades UGI Corporation to Overweight on compelling valuation

As previously reported, Wells Fargo upgraded UGI Corporation to Overweight from Equal Weight with a price target of $27, down from $28, on compelling valuation. The firm believes risk/reward favors investors following underperformance, with the stock lagging peers by 18% last year and about 30% year-to-date. Wells’ $27/share price target represents 25% total return based on potentially conservative propane outlook, the firm notes.