Brean Murray Carret & Co. Assumes Coverage on Northwest Natural Gas (NWN) at Buy

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January 9, 2012 11:49 AM EST
Get Alerts NWN Hot Sheet
Price: $49.42 -2.31%

Rating Summary:
    5 Buy, 9 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 8 | Down: 5 | New: 26
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Brean Murray Carret & Co. assumes coverage on Northwest Natural Gas (NYSE: NWN) with a Buy. PT $53.00.

Brean analyst says, "Our favorable view is generated by the company's opportunities to grow both organically and through customer conversations, and our expectation that it can successfully navigate the upcoming rate case with the Oregon Public Utility Commission (OPUC). Given that the current share price is only 11% from our target price, we recommend investors accumulate or add to positions oppurtunistically, becoming more aggressive at a forward P/E level of 16x (the $43 level)."

For an analyst ratings summary and ratings history on Northwest Natural Gas click here. For more ratings news on Northwest Natural Gas click here.

Shares of Northwest Natural Gas closed at $47.42 yesterday.

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Brean Murray Carret & Co.