BMO changes PT on US utilities; says sector attractive but not expected to outperform
Brokerage BMO Capital changes PT on several U.S.-based utilities; expects sector to remain attractive but not outperform the broader market in 2026
Sees sector struggling without defensive demand, citing cyclical preference, modest EPS growth, regulatory risk and volatility
Expects fundamentals to improve with better returns, low valuations and AI-driven demand
"Similar to our 2025 outlook, we believe 2026 will once again be a stock picker’s market. However, this year, investors should maintain a more balanced and diversified set of exposures” - BMO Capital
Raises rating for Alliant Energy Corp LNT.O to "outperform" from "market perform"; cites strong fundamentals, potential for multiple expansion in defensive markets and growth upside from AI-driven demand
Raises rating for CenterPoint Energy CNP.N to "outperform" from "market perform"; cites strong growth visibility and execution certainty despite current premium
Brokerage changes PT on following companies:
Company | New PT | Old PT | Upside/Downside to stock's last close |
Xcel Energy XEL.O | $86 | $91 | 16.21% upside |
WEC Energy WEC.N | $116 | $119 | 10.47% upside |
Southern Co SO.N | $95 | $109 | 9.52% upside |
Sempra SRE.N | $103 | $99 | 15.6% upside |
Duke Energy DUK.N | $130 | $136 | 11.38% upside |
Alliant Energy LNT.O | $71 | $70 | 8.94% upside |
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