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Investing.com - BTIG initiated coverage on Xcel Energy (NASDAQ:XEL) with a Buy rating and a $96.00 price target on Wednesday, representing a significant upside from the current stock price of $80.64.
The research firm cited Xcel Energy’s position as a "primary beneficiary of the heightened electricity demand environment" and its role as a "key player in the energy transition to renewables."
Xcel Energy is a fully regulated utility that provides electric and natural gas delivery services to more than 6 million customers across its service territories.
BTIG noted that large-load interconnection requests and a robust capital expenditure plan should strengthen the company’s rate base and earnings growth in future years.
The $96 price target represents significant upside potential for the utility, which has been expanding its renewable energy portfolio while managing traditional energy delivery services.
In other recent news, Xcel Energy is set to announce its third-quarter 2025 financial results on October 30, with BMO Capital raising its stock price target to $87 while maintaining an Outperform rating. The company has issued $900 million in 6.25% Junior Subordinated Notes due 2085, involving major financial institutions like BofA Securities and J.P. Morgan Securities. Meanwhile, Evercore ISI has initiated coverage on Xcel Energy with an Outperform rating and a price target of $92, citing the company as a key beneficiary of AI and data center expansions. S&P Global Ratings has revised Xcel Energy’s outlook to stable from negative, following settlements related to wildfire claims, and affirmed their credit ratings. The rating agency commended Xcel’s decision to settle the Marshall fire claims, which included a one-time $290 million charge to earnings, as a prudent risk management move. Additionally, Bria Shea has been appointed as president of Xcel Energy’s Minnesota, North Dakota, and South Dakota operations. Shea will oversee strategic planning and financial results in the Upper Midwest region, which contributes significantly to the company’s earnings. These developments reflect ongoing strategic and financial activities within Xcel Energy.
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