UPDATE: Brean Murray Carret Lowers Target to $69 on CH Energy Group

Brean Murray Carret raises its price target on Buy-rated CH Energy Croup

as the company posts solid 4Q11 results. Brean Murray Carret says, "CHG's 4Q11 results showed continued improvement in profitability, particularly in the electric segment, where profit margins increased dramatically YOY; in the natural gas operations and the non-regulated businesses also turned in solid performances. Looking forward, with the renewable energy divestitures completed, CHG is positioned to improve its profitability substantially in 3023, particularly if weather patterns normalize." CHG closed at $58.81 a share on Thursday.