Deutsche Bank Starts Coverage on Utilities Stocks: CMS, AEP, EIX, ITC, PSEG at Buy
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Just after the close, Deutsche Bank initiated coverage on numerous stocks in the Utilities industry.
With a Buy rating:
- CMS Energy (NYSE: CMS) - $17 price target. "Benefits from one of the most supportive regulatory constructs courtesy of last year's new Michigan energy legislation."
- American Electric Power (NYSE: AEP) - $37 target. Says "AEP offers investors growth opportunities through its transmission project pipeline in some of the country's main energy corridors."
- Edison International (NYSE: EIX) - $37 target. Calls EIX "a strong growth utility with an undervalued merchant coal option led by a value-focused management team with a proven track record of working through difficult market conditions."
- ITC Holdings (NYSE: ITC) - $50 target. Sees the stock undervalued given "significantly higher EPS growth over the next five years..."
- Public Service Enterprise Group (Nasdaq: PSEG) - $36 target. "Offers investors growth opportunities through its regulated utility in New Jersey." The firm also likes the company's exposure to attractive generation assets in PJM.
- Duke Energy (NYSE: DUK) - $16.50 target
- Dominion Resources (NYSE: D) - $38 target
- Exelon (NYSE: EXC) - $51 target
- Con Edison (NYSE: ED) - $41 target
- DTE Energy (NYSE: DTE) - $39 target
- FirstEnergy (NYSE: FE) - $43 target
- PG&E Corp. (NYSE: PCG) - $44 target
- Northeast Utilities System (NYSE: NU) - $25 target
- FPL Group (NYSE: FPL) - $52 target
- Entergy (NYSE: ETR) - $80 target
- Southern Company (NYSE: SO) - $33 target
- Xcel Energy (NYSE: XEL) - $21 target
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