UPDATE: ISI Group Reiterates Neutral Rating, Raises PT on UIL Holdings Corporation on 2013 EPS Guidance

In a report published Friday, ISI Group reiterated its Neutral rating on UIL Holdings Corporation

, and slightly raised its price target from $36.00 to $37.00. ISI Group noted, “UIL initiated 2013 EPS guidance of $2.05-$2.25 vs. consensus of $2.30 and ISI at $2.20. FY12 EPS were $2.02 vs. consensus of $2.08 and ISI at $2.10. Our '13-'15 EPS forecast is now $2.15 / $2.38 / $2.53 vs. $2.20 / $2.35 / $2.50, reflecting the mid-point of our upside and downside case scenarios described below. Our target is up from $36/shr to $37, also reflecting the mid-point of those two scenarios, which drives a 12-month total return of (1.1%). Our rating remains Neutral.” UIL Holdings Corporation closed on Thursday at $39.18.