Xcel Energy price target raised to $68 from $67 at RBC Capital

RBC Capital analyst Shelby Tucker raised the firm’s price target on Xcel Energy to $68 from $67 and keeps a Sector Perform rating on the shares. The company’s growing rate base forecasts were top of mind on its earnings call, as sales growth and data centers remain organic growth drivers for Xcel’s system, and Xcel looks to capitalize on these trends with increased rate base investment and a reduced dividend payout ratio to help fund it, the analyst tells investors in a research note.