Earnings At Wisconsin Energy (WEC) May Exceed Estimates By Additional Wind Development And Environmental Spending
Analysts at Goldman Sachs maintain their "neutral" rating on Wisconsin Energy Corp (NYSE: WEC), while raising their estimates for the company. The target price for WEC has been raised from $54 to $55.
According to Goldman Sachs, “Additional wind development and environmental spending to meet statewide renewable portfolio standard by 2015 are drivers of future rate base growths and potential upside to our estimates.”
Goldman Sachs has revised the estimates “to reflect: (1) 4Q2009 reporting and 10-K data, (2) higher capital expenditure and rate base forecasts for WECPO through 2012, (3) modestly lower D&A estimates over 2010-2012, and (4) revised financing requirements.”
Goldman Sachs has raised its EPS estimates for 2010, 2011 and 2012 from $3.65 to $3.82, from $3.93 to $4.16 and from $4.71 to $4.85, respectively.
