KeyBanc Maintains a 'Buy' on Cleco (CNL); Feeling Even More Positive After Meeting With Management
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Price: $15.24 -4.87%
Rating Summary:
1 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 6 | Down: 5 | New: 3
Rating Summary:
1 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 6 | Down: 5 | New: 3
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KeyBanc maintains a 'Buy' on Cleco (NYSE: CNL) price target raised from $39.50 to $42.00.
KeyBanc analyst said, "We recently traveled with Cleco management and continue to view the story favorably. We walked away feeling better about the prospects of putting the Coughlin assets into the regulated rate base. Aside from the benefit of stable rate base earnings, we believe the transaction would be very efficient from a tax standpoint and could generate meaningful cash through levering the asset. In light of our view that CNL can successfully execute the transaction, we have raised our price objective for shares of CNL stock."
For an analyst ratings summary and ratings history on Cleco click here. For more ratings news on Cleco click here.
Shares of Cleco closed at $39.08 yesterday.
KeyBanc analyst said, "We recently traveled with Cleco management and continue to view the story favorably. We walked away feeling better about the prospects of putting the Coughlin assets into the regulated rate base. Aside from the benefit of stable rate base earnings, we believe the transaction would be very efficient from a tax standpoint and could generate meaningful cash through levering the asset. In light of our view that CNL can successfully execute the transaction, we have raised our price objective for shares of CNL stock."
For an analyst ratings summary and ratings history on Cleco click here. For more ratings news on Cleco click here.
Shares of Cleco closed at $39.08 yesterday.
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