BUZZ-BofA sees demand growth to drive investor interest in utilities

Reuters08-29

** 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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