Goldman Sachs Upgrades Xcel Energy (XEL) to Buy

April 3, 2013 7:41 AM EDT Send to a Friend
Get Alerts XEL Hot Sheet
Price: $34.01 -2.63%

Rating Summary:
    3 Buy, 8 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 14 | Down: 14 | New: 14
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Goldman Sachs upgraded Xcel Energy (NYSE: XEL) from Neutral to Buy with a price target of $32.00 (from $29.00).

The firm's 2013-2015 forecasts of $1.94/$2/05/$2.13 appear 2%/3%/3% ahead of consensus levels.

"We expect XEL to deliver above-average EPS growth and returns, but shares continue to trade at a discount given major rate cases outstanding in Minnesota and Texas," the analyst said. "We expect constructive resolutions of these cases over the next six months and continued earnings execution will drive multiple re-rating."

For an analyst ratings summary and ratings history on Xcel Energy click here. For more ratings news on Xcel Energy click here.

Shares of Xcel Energy closed at $29.65 yesterday.

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