** BofA Global Research expects utilities sector to perform well through the remainder of the year
** Brokerage points to rate cuts prospects, the defensive bias of the market in the second half of the year and likely positive business updates around the time of Q3 earnings reports as reasons behind optimism
** Says that demand growth continues to grab attention of investors while the need for infrastructure investment, rising cost of power will dominate conversations in and around the sector through year-end
Brokerage also changes PT of the following companies:
Company New PT Old PT
Ameren Corp 87 86
American Electric Power 98 97
Constellation Energy 208 201
CMS Energy 73 69
DTE Energy 136 131
Duke Energy Corp 118 116
Eversource Energy 68 67
Entergy Corp 138 135
FirstEnergy Corp 43 42
Alliant Energy Corp 63 62
NextEra Energy 81 77
Public Service Enterprise Group 88 84
PPL Corp 34 33
Southern Company 87 86
TXNM Energy Inc 48 47
WEC Energy Group 90 88
(Reporting by Pooja Menon in Bengaluru)
((Pooja.Menon@thomsonreuters.com))
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