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** Scotiabank raises price targets on several U.S. utility firms as it expects the sector to benefit from a "combination of bullish considerations"

** The PT changes reflect factors like "falling interest rates, a dovish tilt from global central banks, rapidly accelerating load growth outlooks, rising concerns of slowing macroeconomic growth or a potential recession," says Scotiabank

** Utilities are often termed as "defensive stocks" as consumers will still to use their services regardless of the economic situation

** "Fundamental growth outlooks are robust, and upcoming capital expenditure and demand forecast updates should be bullish catalysts over the 3-6 months," says brokerage

** CMS Energy CMS.N, WEC Energy WEC.N, DTE Energy DTE.N, Southern Co SO.N, NextEra Energy NEE.N, Alliant Energy LNT.O and American Electric Power AEP.O are among the brokerage's top picks

Here are the PT changes made by Scotiabank:

(Reporting by Vallari Srivastava in Bengaluru)

((Srivastava.Vallari@thomsonreuters.com;))