UPDATE: Goldman Sachs Downgrades SCANA to Sell
According to a research report this morning, Goldman Sachs is downgrading SCANA Corp.'s (NYSE: SCG) rating to Sell concluding that their estimates fell 3%.
Goldman Sachs stated, “We downgrade SCANA Corp (SCG) from Neutral to Sell, relative to our Neutral view on utilities, with 7% downside to target, as we believe SCG should trade at a discount multiple to peers, given (1) potential negative consensus estimate revisions, as our estimates appear 3% below consensus, (2) above-average construction risk on the new nuclear project underway in S Carolina, and (3) SCG historically traded at a discount to peers, whereas currently the shares trade at peer group levels on our EPS outlook.”
SCANA closed Friday at $44.28 whilst Goldman Sachs decreased their PT from $42 to $41.
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