Deutsche Bank Downgrades GenOn Energy (GEN) to Sell
Tweet
Share
E-mailGet Alerts GEN Hot Sheet
Price: $28.48 -3.69%
Rating Summary:
8 Buy, 8 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
8 Buy, 8 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Join SI Premium – FREE
Deutsche Bank downgraded GenOn Energy (NYSE: GEN) from Hold to Sell with a price target of $2.00.
The firm lowered 2012-14 EBITDA estimates by $35-90M/yr to $445M, $680M, and $700M.
The firm comments, "GEN's fundamental outlook remains highly challenged as a concentrated coal generator whose margins and volumes are adversely affected by a prolonged period of weak natural gas prices. GEN is highly levered to gas, RPM capacity prices, and electric demand growth, and we are cautious on all three of these drivers as described in detail in this report."
For an analyst ratings summary and ratings history on GenOn Energy click here. For more ratings news on GenOn Energy click here.
Shares of GenOn Energy closed at $2.56 yesterday.
The firm lowered 2012-14 EBITDA estimates by $35-90M/yr to $445M, $680M, and $700M.
The firm comments, "GEN's fundamental outlook remains highly challenged as a concentrated coal generator whose margins and volumes are adversely affected by a prolonged period of weak natural gas prices. GEN is highly levered to gas, RPM capacity prices, and electric demand growth, and we are cautious on all three of these drivers as described in detail in this report."
For an analyst ratings summary and ratings history on GenOn Energy click here. For more ratings news on GenOn Energy click here.
Shares of GenOn Energy closed at $2.56 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Deutsche Bank Downgrades Qifu Technology (3660:HK) (QFIN) to Hold
- VICI Properties closes $1.75B senior unsecured notes offering
- Deutsche Bank Upgrades Huizhou Desay Sv Automotive Co (002920:CH) to Hold
Create E-mail Alert Related Categories
Analyst EPS Change, Downgrades, Hot DowngradesRelated Entities
Deutsche BankSign 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!
