Morgan Stanley raises MGE Energy (MGEE.US) target price to $77, optimistic about renewable energy projects driving profit growth
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According to analysts in a research report to investors, the utilities sector underperformed the S&P 500 index during the month. Looking ahead to the fourth quarter earnings reports, Morgan Stanley expects discussions regarding data center project backlogs to become more balanced, while also noting that concerns over energy price affordability and the political environment are increasingly intensifying in the market.
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