Market Overview

Morgan Stanley Picks A Dozen Utilities From Global Pool


In divergent utilities markets worldwide, a recent report focused on deregulation in Australia, a major restructuring in Latin America and efforts in India to boost coal production.

A team of 27 Morgan Stanley analysts authored the report, which named a dozen favored stocks.

In the U.S., the analysts liked Calpine Corporation (NYSE: CPN) which serves markets in Texas; NextEra Energy Inc (NYSE: NEE) which operates Florida Power & Light, and Princeton, New Jersey-based NRG Yield Inc. (NYSE: NYLD).

In Europe the team recommended France-based GDF Suez (OTC: GDSZF), soon change its name to "Engie," the British multi-national Centrica PLC (ADR) (OTC: CPYYY) and Portugal-based EDP Renovaveis SA (ELI: EDPR)

In Asia, utilities favored by Morgan Stanley included Tokyo Gas Co. (OTC: TKGSY), Power Grid Corp. (NSE: POWERGRID) of India, and Korea Electric Power Corporation (ADR) (NYSE: KEP), as well as Indonesia's Perusahaan Gas Negara (ISE: PGAS)

Rounding out the list were Brasil's CPFL Energia S.A. (ADR) (NYSE: CPL) and Australia's Duet Group (OTC: DUETF).

In Australia, Morgan Stanley said the Queensland government will delay electricity deregulation by 12 months.

In Europe, Italy's Enel recently announced a restructuring of its operations in Latin America.

In India, a government push will increase coal production to a compounded annual growth rate of 10 percent over the coming five years, Morgan Stanley said.

Latest Ratings for CPN

Sep 2017DowngradesBuyNeutral
Aug 2017DowngradesBuyNeutral
Aug 2017DowngradesOutperformSector Perform

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