Zacks Investment Research upgraded shares of Sempra Energy (SRE) from UNDERPERFORM to NEUTRAL on October 23, 2013, with a target price of $95.00.
We have upgraded our recommendation on Sempra Energy to Neutral from Underperform based on the company's diversified basket of businesses that insulate its operations to a significant degree from regulatory rate risks. We believe the company presents a lower risk profile relative to its peers. Catalysts include its stable utility earnings, consistent dividend payouts, steady progress at its LNG terminals, renewable power projects in the Pacific Southwest, the Sunrise Powerlink transmission line and ongoing installations of smart meter. However, we prefer to remain on the sidelines due to a few pending regulatory cases, and concern over natural gas prices.
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