UBS Maintains a 'Neutral' on Suburban Propane (SPH); C.hallenging Environment Cushioned by Strong Financials

UBS maintains a 'Neutral' on Suburban Propane (NYSE: SPH) price target lowered from $47 to $43.

UBS analyst says, "SPH reported F1Q12 adjusted EPU of $0.68, well below the Street consensus of $1.00. Adjusted EBITDA for F1Q was $39.1 million, a 35% decline from $60.1 million in F1Q11...In addition to a challenging operating environment (a weak economy, limited new housing opportunities, and conservation and margin pressures caused by high commodity prices), weather conditions across SPH's service territories were 11% warmer than normal and 9% warmer than F1Q11."

UBS cuts FY12 EPS estimate from $3.55 to $2.36 and FY13 from $3.62 to $2.96.

For an analyst ratings summary and ratings history on Suburban Propane click here. For more ratings news on Suburban Propane click here.

Shares of Suburban Propane closed at $42.78 yesterday.

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