** Barclays says it is bullish on U.S. utilities and power sector, sees upward bias to demand growth continuing into Q4
** Expects Evergy EVRG.O and NiSource NI.N to potentially have new customer announcements in near-term for data centers (DCs)
** "We believe there is risk of double counting across the sector...and remain watchful of future commitments given current data center growth estimates from the tech industry are 60-70 gigawatts (GWs) while utility forecasts for DCs are at about 80-90 GWs aggregated through 2029," Barclays says
** Brokerage downgrades Ameren AEE.N and Public Service Enterprise PEG.N to "equal weight" from "overweight"
Barclays changes PT on the following firms:
Company | New PT | Old PT | Upside/downside to stock's last close |
Ameren Corp AEE.N | $95 | $88 | 3.2% downside |
CenterPoint Energy CNP.N | $30 | $29 | 7.3% downside |
Consolidated Edison ED.N | $92 | $99 | 1.5% |
Evergy EVRG.O | $62 | $65 | 2.4% downside |
PG&E Corp PCG.N | $23 | $24 | 39% |
Portland General Electric POR.N | $42 | $48 | 1.9% |
Public Service Enterprise Group PEG.N | $84 | $88 | 4.6% downside |
Sempra SRE.N | $95 | $99 | 14.9% |
Talen Energy TLN.O | $293 | $245 | 19.2% |
(Reporting by Pooja Menon in Bengaluru)
((Pooja.Menon@thomsonreuters.com;))
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