Xcel Energy sees 9% annual EPS growth through 2030 but faces regulatory risks in key states.

Xcel Energy Inc. is expected to achieve about 9% annual earnings per share growth through 2030, driven by its $60 billion capital plan and data center contracts. However, the company faces risks from regulatory challenges and affordability concerns, especially in Colorado and Minnesota, which could impact allowed returns. The current valuation is near the high end of historical norms, leading the analyst to maintain a hold rating with a 2027 price target of $86. Investors are advised to consider buying only if the stock falls below $75 or after positive regulatory developments.