Jefferies Downgrades Xcel Energy (XEL) to Hold on Valuation
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Price: $80.06 --0%
Rating Summary:
18 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 7 | New: 34
Rating Summary:
18 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 7 | New: 34
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Jefferies downgraded Xcel Energy (NYSE: XEL) from Buy to Hold with a price target of $29 (down from $30) on valuation.
The firm comments, "We are downgrading XEL to Hold from Buy based on valuation. The stock is currently trading at an 8% P/E premium to our 2014 group average multiple which is close to our 10% target premium. When we initiated on the stock in September 2011, the company had been trading at almost a 5% P/E discount."
For an analyst ratings summary and ratings history on Xcel Energy click here. For more ratings news on Xcel Energy click here.
Shares of Xcel Energy closed at $27.49 yesterday.
The firm comments, "We are downgrading XEL to Hold from Buy based on valuation. The stock is currently trading at an 8% P/E premium to our 2014 group average multiple which is close to our 10% target premium. When we initiated on the stock in September 2011, the company had been trading at almost a 5% P/E discount."
For an analyst ratings summary and ratings history on Xcel Energy click here. For more ratings news on Xcel Energy click here.
Shares of Xcel Energy closed at $27.49 yesterday.
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