Barclays Reiterates an 'Equalweight' on Wisconsin Energy (WEC); Rate Proceeding Initiated...with a Twist
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Price: $106.01 -2.3%
Rating Summary:
9 Buy, 18 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
9 Buy, 18 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Barclays reiterates an 'Equalweight' on Wisconsin Energy (NYSE: WEC), PT $33.
Barclays analyst says, "We like WEC's creative approach to enabling the state to bypass a rate increase in 2012. We also believe this is a prudent approach in light of the current transition at the PSCW, with the appointment/pending appointment of two (of three) new commissioners. WEC's application to the state provides that the PSCW issue an order by July 15, 2011."
"We reiterate our rating and price target, predicated on '12E of $2.32 and including $2.15 of utility/Power the Future (PTF) earnings with a 4% premium on a 13.5X group multiple, plus $0.17E of American Transmission Co. (ATC) on a 19.0X comparable."
For more ratings news on Wisconsin Energy click here and for the rating history of Wisconsin Energy click here.
Shares of Wisconsin Energy closed at $31.27 yesterday.
Barclays analyst says, "We like WEC's creative approach to enabling the state to bypass a rate increase in 2012. We also believe this is a prudent approach in light of the current transition at the PSCW, with the appointment/pending appointment of two (of three) new commissioners. WEC's application to the state provides that the PSCW issue an order by July 15, 2011."
"We reiterate our rating and price target, predicated on '12E of $2.32 and including $2.15 of utility/Power the Future (PTF) earnings with a 4% premium on a 13.5X group multiple, plus $0.17E of American Transmission Co. (ATC) on a 19.0X comparable."
For more ratings news on Wisconsin Energy click here and for the rating history of Wisconsin Energy click here.
Shares of Wisconsin Energy closed at $31.27 yesterday.
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