Ladenburg Thalmann Starts Sempra Energy (SRE) at Buy, 'among the fastest growing companies in the utility universe'

Ladenburg Thalmann analyst Paul Fremont initiates coverage on Sempra Energy (NYSE: SRE) with a Buy rating and a price target of $81.50.

The analyst comments "We are initiating coverage of Sempra (SRE) with a Buy rating and price target of $81.50. Sempra’s operations combine regulated electric and gas utilities with utility-like infrastructure investments which are contracted over long periods. Growth in both businesses is driven by a significant backlog of investments including projected rate base growth of 9% and a series of liquid natural gas (LNG) projects with supporting gas pipeline and storage operations. With our projection for 8.2% compound annual growth in earnings, Sempra is among the fastest growing companies in the utility universe."

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

Shares of Sempra Energy closed at $75.82 yesterday.

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