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StocksMediumUpdated•Originally published 16 April 2026•Updated 17 April 2026•

1 min read

Major Investment Banks Adjust Price Targets for US Energy and Steel Equities

Key Facts

1BofA Securities raised Xcel Energy's target price to $86 while maintaining a Buy rating.

about 2 months ago

Version History

Version 1about 2 months ago

What changed: Updated the story to include Xcel Energy's 2030 operational targets, the impact of AI data center demand, and fundamental analysis regarding interest rate risks versus growth drivers.

Major financial institutions have adjusted price targets for prominent US energy and materials firms, with BofA Securities raising its target for Xcel Energy to $86. This outlook is supported by Xcel's ambitious goal to achieve 80% carbon-free electricity by 2030 through renewable energy investments and grid modernization. The company is also benefiting from surging demand driven by AI data centers and broader electrification trends, positioning the stock as a defensive play with significant growth potential. Elsewhere, UBS lifted its target for Diamondback Energy to $246, and Wells Fargo increased Steel Dynamics' target to $207. Conversely, Citi lowered its target for EOG Resources to $142, reflecting a complex market environment where clean energy CAPEX and AI demand are weighed against persistent interest rate sensitivity risks.