** Guggenheim expects growth to become more of an investment driver for the utility sector in 2025
** Brokerage sees the sector outperforming broad markets as more nontraditional investors step in for exposure into trends such as power demand/datacenters, Trump’s energy revival, electrification and onshoring with domestic manufacturing
** Historically, utility was not viewed by investors as a value sector or a growth sector, but this dynamic has changed, Guggenheim says
** Brokerage upgrades American Electric Power AEP.O, DTE Energy DTE.N, Evergy EVRG.O, Exelon EXC.O, Idacorp IDA.N and Northwestern Energy NWE.O to "buy" from "neutral"
** Downgrades CenterPoint Energy CNP.N, CMS Energy CMS.N, Edison International EIX.N and Southern Co SO.N to "neutral" from "buy"
Guggenheim changes PT on the following companies:
Company | New PT | Old PT | Upside/downside to stock's last close |
American Electric Power AEP.O | $101 | $86 | 3.6% |
CMS Energy CMS.N | $69 | $77 | 3.6% |
Consolidated Edison ED.N | $92 | $99 | 1.4% |
Edison International EIX.N | $60 | $91 | 3% |
Exelon EXC.O | $44 | $39 | 12.2% |
Idacorp IDA.N | $121 | $100 | 12.3% |
Evergy EVRG.O | $71 | $56 | 13% |
Southern Co SO.N | $93 | $97 | 12.7% |
(Reporting by Pooja Menon in Bengaluru)
((Pooja.Menon@thomsonreuters.com;))
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