UPDATE: UBS Downgrades Duke Energy (DUK) to Neutral; Investigations and Execution Risk Adds Uncertainty
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Price: $70.19 -1.68%
Rating Summary:
6 Buy, 8 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Rating Summary:
6 Buy, 8 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Trade DUK Now!
(Updated - July 11, 2012 11:06 AM EDT)
UBS downgraded Duke Energy (NYSE: DUK) from Buy to Neutral. PT lowered from $75 to $68.
Analyst, Jim von Riesemann, said, "Our support for DUK had been predicated on the underlying financial fundamentals and the value we believe could be delivered to shareholders, but that support hinged on execution risk, including personnel retention and extracting merger savings. Three key PGN executives responsible for regulatory relationships and integration have since resigned. DUK is expected to have major proceedings pending at its two flagship Carolina utilities shortly and has a pending settlement that still requires regulatory approval in Indiana which are key issues for the company."
FY12 EPS estimate cut from $4.31 to $4.25 and FY13 from $4.46 to $4.34.
For an analyst ratings summary and ratings history on Duke Energy click here. For more ratings news on Duke Energy click here.
Shares of Duke Energy closed at $66.14 yesterday, with a 52 week range of $16.87-$69.87.
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UBS downgraded Duke Energy (NYSE: DUK) from Buy to Neutral. PT lowered from $75 to $68.
Analyst, Jim von Riesemann, said, "Our support for DUK had been predicated on the underlying financial fundamentals and the value we believe could be delivered to shareholders, but that support hinged on execution risk, including personnel retention and extracting merger savings. Three key PGN executives responsible for regulatory relationships and integration have since resigned. DUK is expected to have major proceedings pending at its two flagship Carolina utilities shortly and has a pending settlement that still requires regulatory approval in Indiana which are key issues for the company."
FY12 EPS estimate cut from $4.31 to $4.25 and FY13 from $4.46 to $4.34.
For an analyst ratings summary and ratings history on Duke Energy click here. For more ratings news on Duke Energy click here.
Shares of Duke Energy closed at $66.14 yesterday, with a 52 week range of $16.87-$69.87.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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