Goldman Sachs Starts Xcel Energy (XEL) at Neutral on Valuation

Goldman Sachs initiates coverage on Xcel Energy (NYSE: XEL) with a Neutral rating and $29, citing valuation. The firm sets 2012-2014 EPS forecasts are $1.80/$1.92/ $2.03, with our 2013/2014 forecasts 2%/3% above consensus.

"We expect XEL to deliver above-average EPS growth and returns, but initiate with a Neutral rating given relative valuation, a rate case overhang in Minnesota and below-average dividend growth," the analyst comments. "Among Regulated Utilities, we prefer Buy-rated NU (NYSE: NU) (CL) and DUK (NYSE: DUK) among large caps as well as AWK (NYSE: AWK) (CL), GXP (NYSE: GXP) and CNL (NYSE: CNL) among small/mid caps."

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

Shares of Xcel Energy closed at $27.28 yesterday.

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