Market Overview

UPDATE: Citigroup Downgrades Westar Energy to Neutral on Valuation

Related WR
UPDATE: Wunderlich Securities Reiterates On Westar Energy Following Solid 3Q14 Results
Top 4 Mid-Cap Stocks In The Diversified Utilities Industry With The Highest EPS

Citigroup downgraded Westar Energy, Inc. (NYSE: WR) from Buy to Neutral and lowered the price target from $34.00 to $30.00.

Citigroup commented, "We are downgrading WR to Neutral, as the shares' valuation reflects the company's healthy prospects. Our revised EPS estimates for 2013-15 are $2.05, $2.17 and $2.22, respectively. Based on our new 2015 EPS estimate and our new target multiple of 13.5x (equal to our group average target multiple), our new target price is $30/share. Relative to today's share price, this leaves expected total return of 7% over the next 12 months – a level that is commensurate with a Neutral rating."

Westar Energy closed at $29.18 on Monday.

Latest Ratings for WR

DateFirmActionFromTo
Nov 2014Bank of AmericaMaintainsUnderperform
Nov 2014WunderlichMaintainsHold
Nov 2014JP MorganMaintainsNeutral

View More Analyst Ratings for WR
View the Latest Analyst Ratings

Posted-In: CitigroupAnalyst Color Downgrades Pre-Market Outlook Analyst Ratings

 

Related Articles (WR)

Around the Web, We're Loving...

Get Benzinga's Newsletters