UPDATE: Jefferies & Company Reiterates Buy Rating, Lowers PT on UNS Energy Corp.

In a report published Friday, Jefferies & Company reiterated its Buy rating on UNS Energy Corp. UNS, but slightly lowered its price target from $49.00 to $48.50. Jefferies noted, “We are reducing our 4Q and full year 2012 EPS estimate by $0.05 to $0.15 and $2.15, respectively. The adjustment includes an expected $0.01 reduction in Springerville incentive payments associated with an outage in July 2012.” UNS Energy Corp. closed on Thursday at $43.64.