Soleil Securities Cuts Price Target on NV Energy (NVE) Following Conference in NYC

Soleil Securities is maintaining its Buy rating on shares of NV Energy (NYSE: NVE) while lowering its price target by $0.50 to $16.50 following yesterdays presentation to investors in New York City.

During the conference the company talked about why its southern utility filed for $246 million of new rates earlier this week, which reflected the entry of new Harry Allen plant into rates, effective 1/1/12.

In the long-term, Soleil forecasts NVE's earning ROE's in the low 9s and turning free cash flow. The company will be able to raise its dividend payout, create a stronger equity base, and will be able to partake in new investment opportunities with its growing cash flow. The firm notes that building a renewable transmission into California is a possible option.

For more ratings news on NV Energy click here and for the rating history of NV Energy click here.

Shares of NV Energy closed at $15.38 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Fiserv (FISV) PT Lowered to $60 at Freedom Broker
• Freedom Broker Upgrades Lifeway Foods (LWAY) to Buy
• Intuitive Machines Inc. (LUNR) PT Lowered to $32 at Cantor Fitzgerald, Reaffirms Overweight Rating