UPDATE: Wunderlich Securities Raises NV Energy's PT
According to a research report published this morning, Wunderlich Securities has increased NV Energy's (NYSE: NVE) PT from $17.50 to $18.50.
In the report, Wunderlich Securities commented, "NV Energy (NVE) announced yesterday a 31% increase in its dividend, new 2012 EPS guidance and better-than-expected 1Q EPS. The announcements deliver increased transparency and value to NVE shareholders, and punctuate a period of financial investment and improvement the company has recently completed. However, several investors appropriately focused on "What's next?" With leverage to an improving economy in Las Vegas, an intent to increase the equity ratio at the operating companies, and an ongoing focus on controlling operating costs, we believe the upside from the current valuation will be driven by execution."
Wunderlich Securities maintains its Buy rating on NV Energy, which closed yesterday at $16.97.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.