BofA Securities Starts MGE Energy (MGEE) at Neutral

BofA Securities analyst Ross Fowler initiates coverage on MGE Energy (NASDAQ: MGEE) with a Neutral rating and a price target of $76.00.

The analyst comments "We initiate coverage of MGEE at Neutral with a $76 price objective. The company combines regulated electric and gas utilities, leased generation and a minority investment in American Transmission Company. This differentiated mix provides earnings visibility, diversification and multiple growth avenues. MGEE trades at an approximately 15% premium to the UTY Utility Index, in our view, already reflecting much of the company’s quality and growth outlook."

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

Shares of MGE Energy closed at $70.86 yesterday.

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