WEC Energy price target lowered to $87 from $90 at BMO Capital

BMO Capital analyst James Thalacker lowered the firm’s price target on WEC Energy to $87 from $90 and keeps a Market Perform rating on the shares. The firm is reducing its Q2 EPS view to 64c from 92c, with a model update reflecting rate relief recognition timing at PGL, absence of a fuel cost benefit in Wisconsin, higher D&A/interest/O&M costs, and the absence of a gain on Pleasant Prairie, the analyst tells investors in a research note.