Wells Fargo Reaffirms Buy Rating for Sempra Energy with $118 Target

Key Facts

Amid a period of strategic positioning within the utility sector, Wells Fargo analyst Shahriar Pourreza has reaffirmed a 'Buy' rating for Sempra Energy (SRE). The bank maintained a price target of $118.00, a level significantly higher than the current analyst consensus. This bullish stance is supported by the company's solid Q1 financial performance, which saw net profits reach $1.15 billion, alongside positive corporate insider sentiment.

This reaffirmation comes as peers in the utility space show mixed but resilient performance; for instance, NextEra Energy (NEE) reported an 8.3% increase in adjusted earnings per share in its latest quarterly filing per official earnings data. Wells Fargo's $118 target reflects a more aggressive growth outlook compared to some peers, such as Duke Energy, which has seen more conservative target adjustments from major desks recently per market data.

Traders should monitor SRE price action following this reaffirmation, keeping in mind the sector's sensitivity to macroeconomic shifts. With the US PCE Price Index showing a 3.8% year-over-year increase as of May 28, 2026, according to EL7 data, upcoming inflation readings and Fed commentary will remain critical catalysts for utility stock valuations in the near term.