UBS raises Xcel Energy price target to $91, citing strong earnings growth and undervalued wildfire risk.

UBS increased the price target for Xcel Energy to $91 from $89, highlighting the company's strong earnings growth prospects and an overly discounted market view of wildfire risks. The target implies a 12% upside from current prices near $81, supported by Xcel's substantial $60 billion capital investment in renewable energy, grid modernization, and transmission projects. UBS also noted that wildfire-related liabilities have been managed with mitigation measures and regulatory support, reducing downside risk. Upcoming regulatory decisions in Colorado and Minnesota could further boost earnings stability and growth potential.