Utilities have limped through much of 2023, but a few catalysts could lift a handful of stocks into the end of the year, according to Morgan Stanley.
The wildfires in Maui have drawn attention to how severe weather can pose a risk to utilities.
Nevertheless, there could be room for some year-end upside, Morgan Stanley analyst David Arcaro said in a report last week.
"We expect a constructive outcome in the case supporting the upper half of earnings guidance," the Morgan Stanley analyst said.
Morgan Stanley has an overweight recommendation on all three utilities.
Persons:
Morgan Stanley, David Arcaro, Arcaro, Michael Bloom
Organizations:
Utilities, Electric, PPL
Locations:
Maui, Kentucky