Goldman Sachs Downgrades Exelon (EXC) to Sell

October 28, 2013 6:59 AM EDT Send to a Friend
Get Alerts EXC Hot Sheet
Price: $37.61 +0.21%

Rating Summary:
    6 Buy, 10 Hold, 5 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 14 | Down: 28 | New: 51
Trade EXC Now!
Join SI Premium – FREE
Goldman Sachs downgraded Exelon (NYSE: EXC) from Neutral to Sell with a price target of $26.00 (from $29.00) on below consensus outlook, valuation, low dividend growth.

"Our downgrade largely reflects our below consensus expectations, which are 4%/10% below consensus for 2015/2016," analyst Michael Lapides said. "We also believe that, after this year's dividend reduction, many investors likely expect a return to solid dividend growth – however, we view this as unlikely due to low power & capacity prices in EXC's core regions (Mid-Atlantic, New York, Midwest), declining competitive retail margins, higher nuclear operating/capital costs and investment requirements at the regulated segments."

The firm cut FY 2013 EPS from $2.39 to $2330, FY 2014 EPSfrom $2.32 to $2.29 and FY 2015 EPS from $2.19 to $2.16.

For an analyst ratings summary and ratings history on Exelon click here. For more ratings news on Exelon click here.

Shares of Exelon closed at $27.96 yesterday.


Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Analyst Comments, Analyst EPS Change, Analyst PT Change, Downgrades, Hot Downgrades

Related Entities

Dividend

Add Your Comment