Update: Goldman Sachs Raising Price Target On El Paso Electric Co. (EE)

Goldman Sachs has a Neutral rating and a $30 price target on shares of El Paso Electric Co. EE, up from $29. In a note to clients, Goldman writes, "In light of meaningful outperformance by EE in the LTM (+41% v XLU +5%), risk/reward appears more favorable for select other small- and mid-cap utilities. WEC offers above-average returns still, while PNW provides an above-average yield, improving regulation, and upside to our EPS forecasts." Shares of EE gained 63 cents yesterday to close at $28.91, a gain of 2.2%.