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.

You May Also Be Interested In

• TeamViewer (TMV:GR) (TMVWY) PT Lowered to EUR6.50 at Deutsche Bank
• Ferrari NV (RACE:IM) (RACE) PT Raised to EUR465 at Deutsche Bank
• ICICI Securities Upgrades Central Depository Services India Ltd (CDSL:IN) to Hold (3)