WEC Energy: A Brighter Outlook Despite Regulatory Hurdles, Says Analyst
Portfolio Pulse from Lekha Gupta
Mizuho Securities analyst Anthony Crowdell upgraded WEC Energy Group Inc (NYSE:WEC) to Buy from Neutral with a price target of $98. He believes regulatory concerns are overblown and cites constructive ICC staff testimony in PGL and NSG cases. WEC reported Q1 2023 revenues of $2.89 billion, beating consensus estimates.
May 18, 2023 | 7:01 pm
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WEC Energy upgraded to Buy from Neutral by Mizuho Securities analyst, with a price target of $98. Regulatory concerns deemed overblown and Q1 2023 revenues beat estimates.
The upgrade by Mizuho Securities analyst Anthony Crowdell to Buy from Neutral, along with a price target of $98, indicates a positive outlook for WEC Energy. The analyst believes regulatory concerns are overblown and cites constructive ICC staff testimony in PGL and NSG cases. Additionally, WEC reported Q1 2023 revenues of $2.89 billion, beating consensus estimates, which is a positive sign for the company's financial performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100