Wells Fargo lowered the firm’s price target on Sempra Energy (SRE) to $88 from $96 and keeps an Overweight rating on the shares. Sempra Energy reset 2025 EPS on a flurry of developments/assumptions, including regulatory lag and financing costs, the firm says. Management expressed confidence in the long-term outlook, and Wells thinks this presents a buying opportunity, but says shares could remain in the penalty box near term.
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