DA Davidson & Co reiterates its Neutral rating on Avista AVA and raises its price target by $1 to $26.50 as it rolls valuation over toward 2013.
DA Davidson & Co says, "We are forecasting Avista Utilities will contribute quarterly EPS of $0.42, which compares to $0.45 a year ago when a temporarily suspended energy recovery mechanism (ERM) added ~$0.05 per share. The quarter's benefits of rate increases granted in the past year were likely more than offset by a lower ERM benefit, higher operating expenses, and reduced wholesale demand. We believe 4Q'11 weather impacts were inconsequential."
AVA closed at $24.86 a share on Monday.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in