KeyBanc Downgrades Puget Energy (PSD) to Hold
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KeyBanc downgrades Puget Energy, Inc. (NYSE: PSD) from Buy to Hold.
KeyBanc analyst says, "We are downgrading shares of Puget Energy to HOLD from BUY given our view of the risk/reward balance at current pricing. We are disturbed by the notable silence from the Company, which has lowered our view of the odds of a successful close on the original terms. We now believe odds of closing are close to 70-75% vs. our prior 85%+ view. We now view the risk/reward relationship to be in line with our view of these odds of closing."
Puget Energy, Inc. (Puget Energy) is an energy services holding company. All of the Company's operations are conducted through its subsidiary, Puget Sound Energy, Inc. (PSE), a utility company, providing electric and natural gas service to the Puget Sound region of western Washington.
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