UPDATE: Credit Suisse Starts The Laclede Group (LG) at Outperform

(Updated - December 17, 2014 11:34 AM EST)

Credit Suisse initiated coverage on The Laclede Group (NYSE: LG) with an Outperform rating and a price target of $57.00.

Analyst Dan Eggers said, "We like the investment opportunity at LG, particularly against its peer gas utilities, for which it offers healthy 5-6% rate base growth, supportive regulatory constructs with real-time true-up mechanisms that should keep earned ROEs near their allowed levels, and a better-than-average 3.6% dividend yield. In addition, LG management has successfully demonstrated its ability to grow through acquisition, leaving optionality to LG shares that we do not currently include in our estimates or target price. We believe the successful integration of Alagasco onto the LG platform should help lift the share price, with multiples more toward in-line with peers."

For an analyst ratings summary and ratings history on The Laclede Group click here. For more ratings news on The Laclede Group click here.

Shares of The Laclede Group closed at $50.44 yesterday.

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