UBS Maintains a 'Buy' on NRG Energy (NRG); Texas Heat Burns
Tweet
Share
E-mailGet Alerts NRG Hot Sheet
Price: $111.65 --0%
Rating Summary:
24 Buy, 3 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 1 | Down: 3 | New: 32
Rating Summary:
24 Buy, 3 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 1 | Down: 3 | New: 32
Join SI Premium – FREE
UBS maintains a 'Buy' on NRG Energy (NYSE: NRG) price target cut $1 to $25.
UBS analyst says, "NRG lowers ’11 Adj. EBITDA guidance to reflect impact from Aug. heat - The range was lowered by $125-150 Mn to $1.775-1.85 Bn from $1.9-2.0 Bn, but towards the lower end of its original FY11 guidance range of $1.75-1.95 Bn. The reduction is primarily attributable to the extreme weather events in the second half of August in Texas, resulting in operational issues at its gas units, and in turn a sizable short position at its Reliant and Green Mountain retail subsidiaries."
"We are also lowering our Adj. EBITDA for ’11 to $1.79 Bn to reflect this summer’s latest impacts. We are also modestly revising EBITDA to reflect modestly lower retail margins and current power forwards." (FY11 EPS estimate cut from $1.13 to $0.58 and FY12 from $1.41 to $1.01)
For more ratings news on NRG Energy click here and for the rating history of NRG Energy click here.
Shares of NRG Energy closed at $19.93 yesterday.
UBS analyst says, "NRG lowers ’11 Adj. EBITDA guidance to reflect impact from Aug. heat - The range was lowered by $125-150 Mn to $1.775-1.85 Bn from $1.9-2.0 Bn, but towards the lower end of its original FY11 guidance range of $1.75-1.95 Bn. The reduction is primarily attributable to the extreme weather events in the second half of August in Texas, resulting in operational issues at its gas units, and in turn a sizable short position at its Reliant and Green Mountain retail subsidiaries."
"We are also lowering our Adj. EBITDA for ’11 to $1.79 Bn to reflect this summer’s latest impacts. We are also modestly revising EBITDA to reflect modestly lower retail margins and current power forwards." (FY11 EPS estimate cut from $1.13 to $0.58 and FY12 from $1.41 to $1.01)
For more ratings news on NRG Energy click here and for the rating history of NRG Energy click here.
Shares of NRG Energy closed at $19.93 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UBS Downgrades Spring Airlines Co Ltd. (601021:CH) to Neutral
- UBS Downgrades Kuala Lumpur Kepong Bhd (KLK:MK) (KLKBF) to Neutral
- Adobe (ADBE) PT Raised to $250 at Baird
Create E-mail Alert Related Categories
Analyst CommentsRelated Entities
UBSSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
