Citigroup Downgrades Suez (SZE) to Hold
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Citigroup downgrades Suez (NYSE: SZE) from Buy to Hold. Price target $46.
Citigroup analyst, Daniel Martin, says, "We think Gaz de France remains the best way into the Suez-Gaz de France merger. The current approximate ?5 ($6.40) gap between the two share prices implies the French government will sign up to a change in the merger terms involving the transfer of around $2.6 billion of value to Suez shareholders. We do not think this is likely."
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