BofA sees demand growth to drive investor interest in utilities
** BofA Global Research expects utilities sector to perform well through the remainder of the year
** Brokerage points to rate cuts prospects, the defensive bias of the market in the second half of the year and likely positive business updates around the time of Q3 earnings reports as reasons behind optimism
** Says that demand growth continues to grab attention of investors while the need for infrastructure investment, rising cost of power will dominate conversations in and around the sector through year-end
Brokerage also changes PT of the following companies:
Company | New PT | Old PT |
Ameren Corp AEE.N | 87 | 86 |
American Electric Power AEP.O | 98 | 97 |
Constellation Energy CEG.O | 208 | 201 |
CMS Energy CMS.N | 73 | 69 |
DTE Energy DTE.N | 136 | 131 |
Duke Energy Corp DUK.N | 118 | 116 |
Eversource Energy ES.N | 68 | 67 |
Entergy Corp ETR.N | 138 | 135 |
FirstEnergy Corp FE.N | 43 | 42 |
Alliant Energy Corp LNT.O | 63 | 62 |
NextEra Energy NEE.N | 81 | 77 |
Public Service Enterprise Group PEG.N | 88 | 84 |
PPL Corp PPL.N | 34 | 33 |
Southern Company SO.N | 87 | 86 |
TXNM Energy Inc TXNM.N | 48 | 47 |
WEC Energy Group WEC.N | 90 | 88 |
Reporting by Pooja Menon in Bengaluru
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