Sempra Is 'Well-Positioned To Capture Secular Growth,' Says Bullish Analyst
Portfolio Pulse from Priya Nigam
BMO Capital Markets analyst James Thalacker upgraded Sempra (NYSE:SRE) from Market Perform to Outperform and raised the price target from $76 to $84. Sempra is recognized for its above-average earnings growth, strong balance sheet, and capable leadership. The company's earnings growth through 2026 is expected to be driven by its regulated utility investment program, with a 5-year investment plan likely reaching the upper end of its $44-48 billion outlook. Sempra recently completed a $1.4 billion equity offering to secure funding for its 2024-2028 capital program.
January 11, 2024 | 3:20 pm
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POSITIVE IMPACT
Sempra's stock rating has been upgraded by BMO Capital Markets from Market Perform to Outperform with a price target increase from $76 to $84, indicating a positive outlook on the company's financial performance and growth prospects.
The upgrade by a reputable analyst from BMO Capital Markets typically signals confidence in the company's future performance and is likely to instill a similar sentiment among investors. The increase in the price target further reinforces the positive outlook, suggesting that the stock may experience upward price movement in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100