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UPDATE: Citigroup Reduces PT to $18 on QR Energy Following Quarterly Results

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Citigroup reiterated QR Energy (NYSE: QRE) at Neutral and reduced its price target from $19 to $18.

Citigroup noted, "QRE reported 3Q12 adjusted EBITDA of $51.8 million, compared to $22.0 million in 3Q11 and our estimate of $54.9 million for 3Q12. The year over year increase (i.e. 35% increase) reflects the benefit of acquisitions completed throughout the past year. In addition, the variance between our forecast and 3Q12 results can primarily be attributed to lower than expected price realizations."

QR Energy closed at $17.69 on Monday.

Latest Ratings for QRE

DateFirmActionFromTo
Nov 2014CitigroupMaintainsNeutral
Sep 2014Stifel NicolausDowngradesBuyHold
Jul 2014CitigroupMaintainsNeutral

View More Analyst Ratings for QRE
View the Latest Analyst Ratings

Posted-In: CitigroupAnalyst Color Price Target Intraday Update Analyst Ratings

 

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