UPDATE: Wunderlich Securities Downgrades NV Energy to Hold on Increased Regulatory Risk
Wunderlich Securities downgraded NV Energy (NYSE: NVE) from Buy to Hold and maintained a $20.00 price target.
Wunderlich Securities commented, "NVE's ON Line transmission project connecting the north and south utilities is progressing, as approved tower construction has restarted. ON Line remains on track to be in service by yearend. NVE is still targeting mid-year merger filings about 6 months before ON Line is complete. While pursuing legislation to delay the NVE-North rate case legally required in June, management stated they are prepared to file should legislation fail. State regulators are against the legislation, suggesting an increase in regulatory risk."
NV Energy closed at $19.71 on Friday.
Latest Ratings for NVE
|Jul 2013||Williams Capital||Downgrades||Buy||Hold|
|Apr 2013||Goldman Sachs||Maintains||Neutral|
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