Xcel Energy downgraded to Neutral at BofA after regulatory setbacks

As previously reported, BofA analyst Julien Dumoulin-Smith downgraded Xcel Energy to Neutral from Buy with a price target of $60, down from $72, following regulatory setbacks in Minnesota and Colorado. The firm, which notes that it is lowering its estimates to below the Street view, adds that it thinks potential wildfire liabilities will make a “positive re-rating challenging.”