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

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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
Sep 2014SunTrust Robinson HumphreyMaintainsNeutral
Apr 2014Deutsche BankMaintainsHold
Apr 2014UBSUpgradesSellNeutral

View More Analyst Ratings for TE
View the Latest Analyst Ratings

Posted-In: Deutsche BankAnalyst Color Price Target Analyst Ratings

 

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