Wells Fargo raises PT on US utility firms
** Wells Fargo raises price target on utility cos on growing investor recognition that electric utilities are key enablers of the AI infrastructure build-out
** Brokerage says that the somewhat lower and more stable rate environment has left the power industry on firmer footing
** Sees data centers as a key focus for long-term discussion on both their opportunities and risks
** Adds "resiliency and storm preparation will also be a theme in light of the unfortunate frequency of catastrophic weather events"
Brokerage raises PT on the following firm:
Company | New PT | Old PT | Rating |
Atmos Energy Corp ATO.N | $156 | $145 | Overweight |
NiSource Inc NI.N | $38 | $35 | Overweight |
Alliant Energy Corp LNT.O . | $66 | $62 | Overweight |
American Electric Power Company AEP.O | $104 | $98 | Equal Weight |
Centerpoint Energy CNP.N | $32 | $28 | Equal Weight |
CMS Energy Corp CMS.N | $77 | $70 | Overweight |
Evergy Inc EVRG.O | $69 | $65 | Overweight |
Public Service Enterprise Group PEG.N | $100 | $85 | Overweight |
TXNM Energy TXNM.N | $49 | $46 | Overweight |
NorthWestern Energy Group NWE.O | $61 | $58 | Overweight |
Xcel Energy XEL.O | $66 | $63 | Equal Weight |
Reporting by Pooja Menon in Bengaluru
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