Xcel Energy price target lowered to $73 from $74 at BMO Capital

BMO Capital analyst James Thalacker lowered the firm’s price target on Xcel Energy to $73 from $74 but keeps an Outperform rating on the shares. The analyst cites the update from Minnesota rate case yesterday, noting that the cumulative impact of the ALJ’s recommendation would result in a revenue change of $384M in aggregate compared with the company’s updated request of $498M. The firm adds that while certain aspects could be modified in the commission’s ultimate decision, a commission order that is largely consistent with the ALJ recommendation positively.