Xcel Energy (XEL) Stock: $70 Price Target From BMO Capital

By Amit Chowdhry ● Nov 22, 2021
  • The shares of Xcel Energy Inc (NASDAQ: XEL) have received a price target of $70 from BMO Capital. These are the details.

The shares of Xcel Energy Inc (NASDAQ: XEL) have received a price target of $70 from BMO Capital. And BMO Capital analyst James Thalacker upgraded Xcel Energy from “Market Perform” to “Outperform” while increasing the price target from $68.

Thalacker noted that the company shares have underperformed the broader group by 10% year-to-date and now represent an attractive entry point for investors. And Thalacker believes that the company stock only modestly reflects the recent positive fundamental updates associated with federal legislation. And the relatively muted reaction is likely due to several regulatory overhangs that should be largely alleviated through Q1 of 2022.

Plus he believes many of the provisions included in the current federal budget reconciliation bill offer free options that could facilitate additional capital spending in the out-years of the plan.

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