UPDATE: Sempra Energy (SRE) PT Raised to $154 at Mizuho Securities Ahead of Investor Day

Mizuho Securities analyst Anthony Crowdell raised the price target on Sempra Energy (NYSE: SRE) to $154.00 (from $148.00) while maintaining a Buy rating.

The analyst comments "We are reiterating our Buy-rating on SRE shares ahead of the company's Investor Day on June 29th. We believe the company will announce more concrete plans around use of proceeds for the ~$3.37 billion of cash it is to receive following the divestiture of 20% of Sempra Infrastructure Partners (SIP). We are looking for the company to announce additional capital projects at both its CA and TX utilities, as well as opportunities to pay down debt at the Holdco. Ultimately, we believe the Investor Day will provide a number of positive catalysts for SRE shares."

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