UBS Maintains a 'Neutral' on SCANA Corp (SCG); Updated Nuclear Costs - Concerns Remain

UBS maintains a 'Neutral' on SCANA Corp (NYSE: SCG) price target raised from $45 to $46.

Analyst, Jim von Riesemann, said, "Total costs for SCGs two new nuclear units are now projected at $5.761B, up from $5.606B at yearend 2011. With the latest cost update, the project now has about $25MM of headroom with respect to the previously approved [South Carolina PSC] cost projection of $5.786B. Any potential overruns would require additional PSC approval. The new units are expected to be operational in March 2017 and May 2018, respectively."

Next Key Catalyst – NYC Analyst Day June 5
Key topics: (1) updates on new nuclear construction schedule and projected costs; (2) rate case filing and needs; (3) Georgia retail; (4) financing requirements and dividend policy; and (5) SC economic outlook.

For an analyst ratings summary and ratings history on SCANA Corp click here. For more ratings news on SCANA Corp click here.

Shares of SCANA Corp closed at $46.33 yesterday.

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