202610월
SRE Oct 2026 · Buy
We initiate coverage on Sempra (NYSE: SRE) with a Buy rating and a 12-month intrinsic fair value of $91.14 per share, implying 16.28% upside from the October 2, 2026 share price of $78.38. Sempra combines a high-moat California regulated utility core that generates over 92% of top-line revenue with long-term contracted cross-border LNG export infrastructure. Trading at a 14.00% discount to fair value and an attractive 14.51x forward P/E multiple, Sempra discounts large-cap utility peers while offering superior forward EPS growth of 8.5% to 8.9%.Latest published research · analyzed 2026-10-03 · current · sources aging