Sempra Energy price target raised to $93 from $90 at BMO Capital

BMO Capital analyst James Thalacker raised the firm’s price target on Sempra Energy to $93 from $90 and keeps an Outperform rating on the shares. The proposed decision in California included a change to the CPUC’s cost of capital mechanism and effectively lowers all three utilities’ 2025 ROE, though the firm’s price target update reflects its mark-to-makert sum-of-the-parts valuation framework adjustment, the analyst tells investors in a research note.