Barclays lowered the firm’s price target on Sempra Energy (SRE) to $95 from $99 and keeps an Overweight rating on the shares as part of a Q4 earnings preview for the power and utilities group. The firm remains bullish on the sector, seeing an upward bias to demand growth continuing into the Q4 results, with rate base and earnings growth accelerating towards 9%. Valuations “are not demanding,” the analyst tells investors in a research note.
Maximize Your Portfolio with Data Driven Insights:
- Leverage the power of TipRanks' Smart Score, a data-driven tool to help you uncover top performing stocks and make informed investment decisions.
- Monitor your stock picks and compare them to top Wall Street Analysts' recommendations with Your Smart Portfolio
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SRE:
- Sempra Energy put volume heavy and directionally bearish
- Sempra Energy price target raised to $96 from $88 at Evercore ISI
- California utility selloff on fires seems overdone, says Wells Fargo
- Sempra Energy upgraded to Overweight from Equal Weight at Morgan Stanley
- Sempra Energy price target raised to $99 from $89 at Barclays