Goldman Sachs Upgrades Wisconsin Energy (WEC) to Neutral on Share Price Underperformance

Goldman Sachs upgraded Wisconsin Energy (NYSE: WEC) from Sell to Neutral with a price target of $39.00 (from $38.00) citing underperformance relative to small/mid-cap peers since their July 23 2012 downgrade.

The firm raised 2013/14 estimates to $2.41/$2.59 from $2.40/$2.52 – remaining below consensus – mainly to reflect increased expectations for share buybacks driven predominantly by lower expected cash taxes.

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

Shares of Wisconsin Energy closed at $37.73 yesterday.

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