Brean Murray Carret & Co. Downgrades CH Energy (CHG) to Sell; Redeploy Money Into SJI, NU & WGL
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Price: $64.32 +0.11%
Rating Summary:
0 Buy, 1 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
Rating Summary:
0 Buy, 1 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
Trade CHG Now!
Brean Murray Carret & Co. downgraded CH Energy (NYSE: CHG) from Hold to Sell with a price target of $65.00.
Analyst, Michael Gaugler, said, "We are lowering our rating based on the higher probability the company is sold to Fortis, given the shareholder vote yesterday approving the transaction. Our view is that investors should redeploy capital across the remainder of our coverage universe of gas/electric utilities that offer significant upside potential (South Jersey Industries (NYSE: SJI), Northeast Utilities (NYSE: NU), and WGL Holdings (NYSE: WGL)) of greater than 15% upside to our current target prices."
For an analyst ratings summary and ratings history on CH Energy click here. For more ratings news on CH Energy click here.
Shares of CH Energy closed at $64.93 yesterday, with a 52 week range of $48.00-$67.48.
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Analyst, Michael Gaugler, said, "We are lowering our rating based on the higher probability the company is sold to Fortis, given the shareholder vote yesterday approving the transaction. Our view is that investors should redeploy capital across the remainder of our coverage universe of gas/electric utilities that offer significant upside potential (South Jersey Industries (NYSE: SJI), Northeast Utilities (NYSE: NU), and WGL Holdings (NYSE: WGL)) of greater than 15% upside to our current target prices."
For an analyst ratings summary and ratings history on CH Energy click here. For more ratings news on CH Energy click here.
Shares of CH Energy closed at $64.93 yesterday, with a 52 week range of $48.00-$67.48.
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