UBS Cuts Price Target on Sempra Energy (SRE) After Visiting Facility
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UBS maintained a Buy rating on Sempra Energy (NYSE: SRE), and cut the price target to $113.00 (from $116.00), after visiting the company's Cameron LNG facility.
Analyst Julien Dumoulin-Smith commented, "We travelled yesterday to Lake Charles, Louisiana for a visit to Sempra's Cameron LNG facility in light of recent delay concerns. In short, we don't see a full 6 month delay as a given and at this stage we believe it's likely closer to 2-3 months without factoring in potential further mitigation. Our bias remains that deployment prospects will improve."
Shares of Sempra Energy closed at $98.31 yesterday.
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