Market Overview

UPDATE: Deutsche Bank Raises PT on TECO Energy on Q4 Earnings

Related TE
Earnings Scheduled For October 31, 2014
New Mexico Gas Co. Announces Leadership Change

In a report published Wednesday, Deutsche Bank reiterated its Hold rating on TECO Energy (NYSE: TE), and slightly raised its price target from $16.50 to $17.00.

Deutsche Bank noted, “Lowering estimates but raising PT and reiterating Hold rating. Following Q4 earnings and a disappointing 2013 outlook, we are reducing our TE estimates but raising our price target to account for the company's favorable tax position (we don't expect TE to pay much in the way of cash taxes through 2018). We are reiterating our Hold rating as the stock is now trading very close to fair value, in our view, following yesterday's material underperformance.”

TECO Energy closed on Tuesday at $16.83.

Latest Ratings for TE

DateFirmActionFromTo
Oct 2014Argus ResearchUpgradesHoldBuy
Oct 2014MacquarieUpgradesUnderperformNeutral
Oct 2014BarclaysUpgradesUnderweightEqual-weight

View More Analyst Ratings for TE
View the Latest Analyst Ratings

Posted-In: Deutsche BankAnalyst Color Price Target Analyst Ratings

 

Related Articles (TE)

Around the Web, We're Loving...

Get Benzinga's Newsletters