Deutsche Bank Downgrades Spectra Energy (SE) to Hold; Q2 Hurt The Cause
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Price: $31.82 +0.44%
Rating Summary:
4 Buy, 4 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 21 | Down: 43 | New: 13
Rating Summary:
4 Buy, 4 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 21 | Down: 43 | New: 13
Trade SE Now!
Deutsche Bank downgraded Spectra Energy (NYSE: SE) from Buy to Hold with a price target of $30.00 (from $37.00).
Analyst, Curt Launer, said, "SE reported 2Q’12 eps of $0.33 vs $0.44 in 2Q’11. Our estimate and consensus were $0.40. While we anticipated a decline in quarterly earnings due to commodity exposure, the magnitude of the decline, especially at the DCP Midstream joint venture and at Empress (Canadian Transmission and Processing) were much greater than expected. Our updated models and valuations are included with this report but may be summarized by a reduction in earnings estimate for 2012 from $1.80 to $1.40 and from $2.00 to $1.55 for 2013."
For an analyst ratings summary and ratings history on Spectra Energy click here. For more ratings news on Spectra Energy click here.
Shares of Spectra Energy closed at $29.58 yesterday, with a 52 week range of $22.80-$32.27.
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Analyst, Curt Launer, said, "SE reported 2Q’12 eps of $0.33 vs $0.44 in 2Q’11. Our estimate and consensus were $0.40. While we anticipated a decline in quarterly earnings due to commodity exposure, the magnitude of the decline, especially at the DCP Midstream joint venture and at Empress (Canadian Transmission and Processing) were much greater than expected. Our updated models and valuations are included with this report but may be summarized by a reduction in earnings estimate for 2012 from $1.80 to $1.40 and from $2.00 to $1.55 for 2013."
For an analyst ratings summary and ratings history on Spectra Energy click here. For more ratings news on Spectra Energy click here.
Shares of Spectra Energy closed at $29.58 yesterday, with a 52 week range of $22.80-$32.27.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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