Jefferies Cuts Price Target on UniSource Energy Corporation (UNS) Based on New EPS Estimates

Jefferies is maintaining its Hold rating on shares of UniSource Energy Corporation (NYSE: UNS) and is lowering its price target from $38 to $37 based on its new estimates.

To reflect a prior period restatement by the company, the firm is raising its Q4 2011 EPS estimate from $0.15 to $0.25 and is reducing its Q1 2012 estimate from $0.44 to $0.36. Jefferies reaffirmed its fiscal 2012 EPS estimate of $2.30.

To reflect revised assumptions in the TEP rate filing and in the TEP's upcoming rate filing, the firm has lowered its fiscal 2013 and 2014 EPS estimates by $0.10 and $0.20 to $2.70 and $3.25.

For an analyst ratings summary and ratings history on UniSource Energy Corporation click here. For more ratings news on UniSource Energy Corporation click here.

Shares of UniSource Energy Corporation closed at $36.31 yesterday.

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