Mizuho Securities Upgrades WEC Energy Group (WEC) to Buy, 'Cheeseheads at a Great Price'

Mizuho Securities analyst Anthony Crowdell upgraded WEC Energy Group (NYSE: WEC) from Neutral to Buy with a price target of $98.00.

The analyst comments "We are upgrading shares of WEC to Buy from Neutral. Shares have underperformed the UTY by ~4% over the past two months due to regulatory concerns in WI (50% of asset base exposed) and IL (17% of asset base). We believe the regulatory concerns are overblown given the company largely resolved its WI filings earlier this year, covering the WI utilities through 2024. On the IL side, staff testimony published earlier this month appears constructive. WEC shares currently trade at a ~7% P/E premium to our 2025 EPS estimate of $5.24, whereas the company typically trades at a low-teens premium to the group. We view the recent weakness as a buying opportunity. Maintain $98 PT."

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

Shares of WEC Energy Group closed at $89.27 yesterday.

You May Also Be Interested In

• JPMorgan Upgrades Amber Enterprises India Ltd (AMBER:IN) to Overweight
• Jefferies Starts Aditya Birla Real Estate (ABREL:IN) at Buy
• Investec Double Upgrades Alkem Laboratories Ltd (ALKEM:IN) to Buy