UBS Maintains a 'Buy' on NRG Energy (NRG); Texas Heat Burns
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Price: $114.82 -0.47%
Rating Summary:
24 Buy, 3 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
24 Buy, 3 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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UBS maintains a 'Buy' on NRG Energy (NYSE: NRG) price target cut $1 to $25.
UBS analyst says, "NRG lowers ’11 Adj. EBITDA guidance to reflect impact from Aug. heat - The range was lowered by $125-150 Mn to $1.775-1.85 Bn from $1.9-2.0 Bn, but towards the lower end of its original FY11 guidance range of $1.75-1.95 Bn. The reduction is primarily attributable to the extreme weather events in the second half of August in Texas, resulting in operational issues at its gas units, and in turn a sizable short position at its Reliant and Green Mountain retail subsidiaries."
"We are also lowering our Adj. EBITDA for ’11 to $1.79 Bn to reflect this summer’s latest impacts. We are also modestly revising EBITDA to reflect modestly lower retail margins and current power forwards." (FY11 EPS estimate cut from $1.13 to $0.58 and FY12 from $1.41 to $1.01)
For more ratings news on NRG Energy click here and for the rating history of NRG Energy click here.
Shares of NRG Energy closed at $19.93 yesterday.
UBS analyst says, "NRG lowers ’11 Adj. EBITDA guidance to reflect impact from Aug. heat - The range was lowered by $125-150 Mn to $1.775-1.85 Bn from $1.9-2.0 Bn, but towards the lower end of its original FY11 guidance range of $1.75-1.95 Bn. The reduction is primarily attributable to the extreme weather events in the second half of August in Texas, resulting in operational issues at its gas units, and in turn a sizable short position at its Reliant and Green Mountain retail subsidiaries."
"We are also lowering our Adj. EBITDA for ’11 to $1.79 Bn to reflect this summer’s latest impacts. We are also modestly revising EBITDA to reflect modestly lower retail margins and current power forwards." (FY11 EPS estimate cut from $1.13 to $0.58 and FY12 from $1.41 to $1.01)
For more ratings news on NRG Energy click here and for the rating history of NRG Energy click here.
Shares of NRG Energy closed at $19.93 yesterday.
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