Citi Raises Price Target On NV Energy To $17

According to Citi, NV Energy (NYSE: NVE) target price increases to $17 from $14.

Citi said that that, “Additionally, we are adjusting 2011-12 EPS and introducing 2013 outlook. We are increasing our 2011 and 2012 EPS estimate to $1.01 and $1.25 from $0.96 and $1.15, respectively. Additionally, we are introducing our new 2013 EPS estimate of $1.29. The increase in our outlook is mainly attributed to slightly higher earned ROE assumptions.”

NV Energy closed yesterday at $15.55.