Jefferies analyst Paul Fremont boosted his price target on Buy-rated Xcel Energy (NYSE: XEL) to $36.00 (from $32.00) following Q1 results.

Fremont comments, "1Q14 operating earnings of $0.52 were in line with consensus estimate of $0.51. The strong quarter included a $0.05 weather contribution. Weather normalized electric sales appear to be recovering resulting in an upward revision in company growth assumptions for the year. The company is maintaining its 2014 guidance of $1.90-$2.05."

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Shares of Xcel Energy closed at $31.92 yesterday.