Sempra Energy price target raised to $87 from $79 at Ladenburg

Ladenburg raised the firm’s price target on Sempra Energy to $87 from $79 and keeps a Buy rating on the shares. The firm reduced estimates post the Q2 report to reflect the increase in cost and delayed operation of the ECA 1 LNG gasification plant and assumed lower capacity utilization levels. However, its sum-of-the-parts valuation approach yields the higher target.