Jefferies Reaffirms Buy Rating for Xcel Energy (XEL) with $94 Price Target

Jefferies analyst Julien Dumoulin Smith has reaffirmed a "Buy" rating for Xcel Energy (XEL), setting a price target of $94.00. This positive outlook is underpinned by the company's robust performance within the Utilities sector. Xcel Energy recently reported strong financial results, with quarterly revenue reaching $3.92 billion. The utility firm also posted a net profit of $524 million for the same period, indicating solid operational efficiency. Adding to the positive sentiment, TD Cowen also initiated a "Buy" rating for XEL. However, an analyst from Anthropic maintained a "Hold" rating, offering a more cautious perspective. Overall, the maintained "Buy" rating from Jefferies, coupled with strong earnings, suggests a bullish sentiment for Xcel Energy's stock.

Sources:The Globe and Mail