Xcel Energy price target raised to $78 from $68 at Argus

Argus analyst Marie Ferguson raised the firm’s price target on Xcel Energy (XEL) to $78 from $68 and keeps a Buy rating on the shares. The company has solid transmission operations and has been benefiting from growing population in the Denver area and increasing data center demand, the analyst tells investors in a research note. Xcel shares also have momentum, but remain favorably valued with a projected 2025 earnings multiple of 18.3-times vs. the company’s five-year average of 22-times, Argus added.