Truist analyst Richard Sunderland lowered the firm's price target on WEC Energy to $119 from $124 and keeps a Hold rating on the shares as part of a broader research note updating the firm's models in Power and Utilities ahead of the American Gas Association's Financial Forum. Standing in year three of the data center wave, sector investment continues to march higher and growth expectations alongside this, with vertically integrated electric utilities seen as clear winners in building the infrastructure to serve this load growth, the analyst tells investors in a research note.
