Xcel Energy price target lowered to $58 from $60 at BofA

BofA analyst Julien Dumoulin-Smith lowered the firm’s price target on Xcel Energy to $58 from $60 and keeps a Neutral rating on the shares after a mark to market of the latest valuation multiple against “slightly higher estimates.” The firm cautions against “premature enthusiasm” for Xcel’s prospects in Colorado following the release of Public Service of Colorado’s latest Clean Energy Plan, given it is “still a proposal at this point.” The shares’ outperformance last week make the “risk/reward that much more challenging,” the analyst added.