DA Davidson Maintains a 'Neutral' on Hawaiian Electric (HE); Adjusting EPS Estimates and PT

DA Davidson maintains a 'Neutral' on Hawaiian Electric (NYSE: HE), PT increased from $23.50 to $25.

DA analyst says, "We are reducing our 2011 and 2012 EPS estimates as near-term earnings improvements at the bank appear to be lower than previously assumed and the benefits from the utility sales decoupling mechanism will likely take longer to fully realize than we were anticipating. Our 2011 EPS estimate is lowered from $1.53 to $1.41; our 2012 projection is lowered from $1.90 to $1.83.

For more ratings news on Hawaiian Electric click here and for the rating history of Hawaiian Electric click here.

Shares of Hawaiian Electric closed at $26.25 yesterday.

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