Jefferies Cuts Sempra Energy Target to $89, Cites California Litigation and Cost-of-Capital Pressure
Jefferies has trimmed its price target on Sempra Energy to $89 from $95 while keeping a Hold rating, pointing to litigation involving Southern California Gas and shifts in California cost-of-capital assumptions. The move comes as the stock trades near the new target and follows a quarter in which Sempra beat expectations on both earnings and revenu…