Credit Suisse Downgrades Suburban Propane (SPH) to Underperform (Earlier)

Credit Suisse downgraded Suburban Propane (NYSE: SPH) from Neutral to Underperform with a price target of $45.00. The change follows Q4 results.

Analyst John Edwards said, "Overall, volumes were below estimates – In F4Q, SPH sold 3%/13% lower propane and refined fuel gallons y/y (FY14 ended 1%/9% lower y/y). In FY14, SPH's service area witnessed 3% colder than normal (7% colder y/y) temperatures, however during the winter heating season, temperatures in the western region were 11% warmer than normal (6% warmer y/y)."

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 $44.81 yesterday.

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