UPDATE: Wunderlich Securities Raises PT to $49 on Scana Corporation; Nuclear Positioning

Wunderlich Securities raises its price target from $47 to $49 on Buy-rated Scana Corporation

as Q1 miss was due to weather, and the company's nuclear positioning should yield growth. Wunderlich Securities says, "SCANA Corporation (SCG) reported 1Q EPS of $0.93 versus $1.00 a year ago (our/consensus was $1.03/$1.06). The lower-than-expected results were driven by a larger impact of mild weather. Unregulated gas operations were impacted by $0.08 and electric operations by $0.01. Further, higher seasonal maintenance expenses also impacted 1Q results. Nuclear construction activities are accelerating with the receipt of a construction and operating license (COL) on March 30. SCG reiterated its 2012 EPS guidance of $3.10-$3.25, with an internal target of $3.17. We are maintaining our EPS estimates and our Buy rating, but increasing our target price to $49 from $47. SCG is well positioned for growth from nuclear construction and accelerating sales growth." SCG closed at $45.87 on Thursday.