Analysts raised WEC Energy Group's price target to $104 based on improved forecast, positive outlook.

From Financial Modeling Prep: 2024-12-03 10:21:00

BMO Capital analysts raised WEC Energy Group’s price target to $104 and maintained a Market Perform rating. The update was based on a reassessment of the company’s 2024-2028 forecast, reflecting updated capital and financing plans and developments in Wisconsin rate cases.

Revised projections suggest a 6.8% compound annual growth rate for earnings per share (EPS), aligning with WEC Energy’s long-term target range of 6.5%-7.0% EPS growth based on an initial 2023 EPS midpoint of $4.60.

Analysts anticipate above-trend growth in 2025 for WEC Energy Group, positioning the company to return to its projected range after facing challenges in 2024. This forecast highlights the company’s resilience and commitment to delivering consistent returns over the forecast period.



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