Brean Murray Upgrades Southwest Gas (SWX) to Buy, Sets $49 Price Target

May 8, 2012 12:05 PM EDT
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Price: $77.97 +0.78%

Rating Summary:
    2 Buy, 5 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Brean Murray Carret & Co. issued an intraday upgrade on shares of Southwest Gas (NYSE: SWX) Tuesday morning. The firm now rates the stock a Buy, up from Hold previously. A $49 price target was initiated.

The upgrade follows Q1 results from Southwest Gas on Friday, May 4th. Brean Murray called the results " start the year." The firm sees "strength in the construction services segment likely to continue, given that utilities are being incentivized to replace pipe, and we view regulatory developments as favorable, especially in Arizona, which granted a decoupling mechanism."

Shares of Southwest Gas are up about 1 percent to $42.79 at last check. Brean Murray's new price target represents potential upside of about 15 percent from where the stock is currently trading.

For an analyst ratings summary and ratings history on Southwest Gas click here. For more ratings news on Southwest Gas click here.

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