Barclays maintains an 'Overweight' on Questar (STR); Solid Quarter; Raises 2011 Guidance

Barclays maintains an 'Overweight' on Questar (NYSE: STR) price target by $1 to $20.00.

Barclays analyst says, "Reports 3Q Beat: STR reported $0.20 vs. consensus and our estimate of $0.17 driven by yr/yr increases across all segments. In light of better-than-expected quarter results, we are raising our FY 2011 EPS number to $1.18 from $1.15 and increasing our price target to $20."

"2012 EPS Guidance and Capex: The company released its initial 2012 EPS
guidance in the range of $1.15 to $1.19. Capital spending plans were kept flat at $355MM with an increase in the Wexpro and Questar Gas budgets, offset by a decrease at Questar Pipeline as the Overthrust Pipeline expansion was placed into service earlier this year. The company is hosting an analyst day in New York on November 2nd to discuss the 2012 outlook in more detail."

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

Shares of Questar closed at $19.09 yesterday.

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