Keybanc Cuts Xcel Energy (XEL) Price Target to $87

Keybanc has reiterated its Overweight rating on Xcel Energy, setting a price target of $87.0, a 14.75% upside from the current price.

By EarningsIQ Research Desk · Published Oct 16, 2026, 2:09 PM EDT

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Keybanc cut its price target on Xcel Energy Inc. ($XEL) to $87 from $90 on October 13, 2026, and rates the stock "Overweight".

Since the rating, $XEL is up 2.2% to date (from the $74.64 close on Oct 13, 2026).

XEL Xcel Energy Inc.

$76.31 +4.55% year to date

Daily close · Oct 16, 2026

Key Points

On October 13, 2026, Keybanc reiterated its Overweight rating on Xcel Energy Inc. with a price target of $87.0, down from $90.0.
Keybanc's $87 price target implies 14.75% upside from Xcel Energy Inc.'s ($XEL) current $75.82 share price.
As of October 16, 2026, Xcel Energy shares were recently trading around $75.82, which is 12.9% below the new target price.
Xcel Energy has a trailing twelve-month revenue of about $14.6 billion and a dividend yield of 2.37%.

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Keybanc reiterated its Overweight rating on Xcel Energy Inc. (XEL) on October 13, 2026, with a new price target of $87.0, down from $90.0. This new target reflects a 12.9% gap below the stock's recent trading price.

Keybanc's Call on Xcel Energy

Keybanc maintained an Overweight rating on Xcel Energy, a company that operates as an electric and natural gas delivery provider in the U.S. The new target price of $87.0 is set against a backdrop of the stock trading at about $75.82 as of October 16, 2026.

Other Institutional Activity in Xcel Energy

Several other funds have also shown interest in Xcel Energy. Blackrock Inc. holds 60,898,333 shares, worth about $4.65 billion, after increasing its stake by 6,986,919 shares. Vanguard Capital Management LLC owns 40,769,716 shares valued at approximately $3.11 billion, having added 1,279,484 shares. State Street Corporation has 38,896,012 shares, worth about $2.97 billion, after increasing its holdings by 1,770,869 shares.

Xcel Energy Inc. Stock Up 4.9%

Xcel Energy shares are currently trading around $75.82, which positions them below the recently set price target of $87.0. This suggests a potential for growth if the stock price aligns with analyst expectations. The stock has shown resilience, trading well within its historical range despite recent adjustments in analyst targets.

12-month forecast

$XEL price target

Xcel Energy Inc. daily closes and this analyst's $87 target. Not advice.

Recent Earnings

Xcel Energy reported trailing twelve-month revenue of approximately $14.6 billion and an EPS of $3.65. The company's next earnings report is scheduled for October 29, 2026, which may provide further insights into its financial performance.

Analysts Set New Price Targets

In addition to Keybanc's recent action, Truist Securities maintained a Buy rating with a target of $88.0 on August 13, 2026, while Morgan Stanley set targets of $89.0 and $83.0 on August 21 and September 18, respectively. Scotiabank initiated coverage with a Sector Outperform rating and a target of $77.0 on September 29, 2026.

About Xcel Energy

Xcel Energy Inc. is based in Minneapolis, MN, and operates in the Utilities sector. The company provides electric and natural gas services through its regulated utility segments. It plays a crucial role in delivering energy to millions of customers across the U.S., making its performance vital for both investors and consumers alike.

Bottom Line

Investors will want to keep an eye on Xcel Energy's upcoming earnings report on October 29, 2026, as it may influence future analyst ratings and stock performance. Keybanc's recent reiteration of its Overweight rating highlights the ongoing interest in the company despite recent adjustments in price targets from various analysts.