Shares of power producers rose after an upgrade for the sector from brokerage Goldman Sachs, who said uncertainties about the U.S. economic outlook made the defensive sector a good bet.

"Investors will likely continue to assign a premium to companies that are perceived to be most insulated from the potential risks to the U.S. economic recovery," said the strategists at Goldman Sachs said, in a note to clients.

Minnesota power producer Xcel Energy said it plans to power 1.5 million electric vehicles (EVs) in its service areas by 2030, including efforts to support residential and public charging options and EV adoption. 



  Write to Rob Curran at rob.curran@dowjones.com