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The Week Ended September 22: Rate Hike Fears Pressured Utilities

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Part 4
The Week Ended September 22: Rate Hike Fears Pressured Utilities PART 4 OF 4

These SPX Utilities Received Rating Changes Last Week

Price targets

In this part, we’ll discuss the price targets of SPX utilities stocks (XLU) that have received recent recommendation changes from Wall Street analysts. American Electric Power (AEP), one of the largest utilities by market capitalization, has a mean price target of $72.90 against its current market price of $70.60. 

This trend implies an estimated upside of 3.3% going forward. SunTrust Robinson raised its price target from $78.00 to $80.00 early this month.

These SPX Utilities Received Rating Changes Last Week

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Entergy

According to Wall Street analysts’ consensus, Entergy (ETR) has a mean price target of $79.30 against its current market price of $76.80. This indicates a possible gain of ~3.4%.

Competitive utility Entergy Corporation stock received an upgrade from Morgan Stanley (MS) last week to “equal-weight” from its earlier “underweight” rating. However, Morgan Stanley cut Entergy’s price target to $82.00 from $84.00.

Public Service Enterprise Group

As another competitive utility, Public Service Enterprise Group (PEG) has a mean price target of $48.70, which implies a possible gain of 5.4%. It is currently trading at $46.20.

Morgan Stanley upgraded Public Service Enterprise Group’s rating to “overweight” on September 21, 2017.

Pinnacle West Capital Group

Pinnacle West Capital (PNW) has a mean price target of $88.00 compared with its current market price of $86.20, suggesting an estimated gain potential of 2.1% going forward.

On September 20, 2017, Credit Suisse gave Pinnacle West Capital a rating of “neutral” and a price target of $90.00. SunTrust Robinson cut Pinnacle West’s price target to $86.00 against last week’s price target of $87.00.

You can read about price targets of top utility stocks in What Drove US Utility Stocks Last Week. If you are looking for a high-yielding utility stocks, please read Analyzing the 10 Top-Yielding SPX Utility Stocks.

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