BUZZ-Barclays optimistic on US utilities, sees continued demand growth
Barclays says it is bullish on U.S. utilities and power sector, sees upward bias to demand growth continuing into Q4
Expects Evergy EVRG.O and NiSource NI.N to potentially have new customer announcements in near-term for data centers (DCs)
"We believe there is risk of double counting across the sector...and remain watchful of future commitments given current data center growth estimates from the tech industry are 60-70 gigawatts (GWs) while utility forecasts for DCs are at about 80-90 GWs aggregated through 2029," Barclays says
Brokerage downgrades Ameren AEE.N and Public Service Enterprise PEG.N to "equal weight" from "overweight"
Barclays changes PT on the following firms:
Company | New PT | Old PT | Upside/downside to stock's last close |
Ameren Corp AEE.N | $95 | $88 | 3.2% downside |
CenterPoint Energy CNP.N | $30 | $29 | 7.3% downside |
Consolidated Edison ED.N | $92 | $99 | 1.5% |
Evergy EVRG.O | $62 | $65 | 2.4% downside |
PG&E Corp PCG.N | $23 | $24 | 39% |
Portland General Electric POR.N | $42 | $48 | 1.9% |
Public Service Enterprise Group PEG.N | $84 | $88 | 4.6% downside |
Sempra SRE.N | $95 | $99 | 14.9% |
Talen Energy TLN.O | $293 | $245 | 19.2% |
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