Mizuho Securities Reiterates Buy on SCANA Corp. (SCG) Following Analysis

Mizuho Securities reiterated a Buy rating and $71.00 price target on SCANA Corp (NYSE: SCG) following a company analysis. Many on the street believe that SCG faces an earnings cliff in 2019, 'guessing' the impact to be around a $0.30-0.40 per share reduction in EPS power. However, Mizuho's deep dive analysis suggests the impact would likely be less than $0.10 per share.

Analyst James Riesemann commented, "Bonus depreciation is elective, not mandatory as some believe, and we disagree with those on the Street that think SCG faces a significant earnings cliff in 2019. While these same people are 'guessing' the impact to be a $0.30-0.40 per share reduction in EPS power, our deep dive analysis suggests the impact would likely be less than $0.10 per share, if elected, implying the company should still be able to meet its 4-6% longer-term growth targets. Reaffirm Buy and $71 per share 12 month price target."

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

Shares of SCANA Corp closed at $65.94 yesterday.

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