Morgan Stanley Lowers Price Target for MGE Energy Amid Utility Sector Underperformance
On May 21, Morgan Stanley analyst David Arcaro reduced the price target on MGE Energy (MGEE) to $70 from $74 while maintaining an 'Underweight' rating. The move follows underperformance in the utility sector relative to the S&P this month and comes after MGEE reported Q1 earnings of $1.32 per share, up slightly year-over-year.
