UPDATE: Jefferies Reiterates Hold Rating, Lowers PT on Xcel Energy
In a report published Friday, Jefferies reiterated its Hold rating on Xcel Energy (NYSE: XEL), but lowered its price target from $29.50 to $28.00.
Jefferies noted, “XCEL 4Q12 operating EPS was $0.29 on a diluted basis, versus $0.29 for the same period a year ago, our estimate of $0.30, and FC consensus of $0.27. Higher electric and gas margins were offset by higher depreciation and operating and maintenance expense.”
Xcel Energy closed on Thursday at $27.28.
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