BMO Capital analyst James Thalacker raised the firm’s price target on Xcel Energy (XEL) to $87 from $84 and keeps an Outperform rating on the shares ahead of its Q3 earnings. The quarterly results should take a back seat to the company’s comprehensive capital plan refresh and include the majority of the $15B of the “line of sight” upside capital bucket, resulting in rate base growth in the low-to-mid teens, the analyst tells investors in a research note. BMO does not expect the company to change its 6%-8% growth rate, but it believes the plan could support realized EPS growth approaching 9%, the firm added.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on XEL:
- Xcel Energy price target raised to $85 from $79 at KeyBanc
- Xcel Energy’s Growth Prospects: Buy Rating Affirmed Amid Earnings and Dividend Growth Guidance
- Xcel Energy price target raised to $84 from $82 at UBS
- Xcel Energy Issues $900M Junior Subordinated Notes
- Xcel Energy initiated with an Outperform at Evercore ISI