WEC Energy price target raised to $110 from $103 at Scotiabank

Scotiabank raised the firm’s price target on WEC Energy (WEC) to $110 from $103 and keeps an Outperform rating on the shares. Looking to 2025, the firm is bumping WEC Energy to be its new top pick among U.S. utility stocks, the analyst tells investors. The company is a standout in terms of load growth due to increasing investment plans from Microsoft (MSFT) and other data central/industrial customers, which should drive meaningful increases to WEC’s capex outlook.