WEC Energy initiated with a Sector Perform at RBC Capital

RBC Capital analyst Shelby Tucke initiated coverage of WEC Energy (WEC) with a Sector Perform rating and $95 price target. The firm says WEC is one of the premium utility operators backed by a constructive regulatory environment. However, the analyst believes the shares are fairly valued due to the stock already trading at a premium multiple. RBC added WEC to its “Best Defensives plays list,” replacing Xcel Energy (XEL).