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雷达卡
【出版时间及名称】：2010年1月美国电力行业研究报告
【作者】：德意志银行
【文件格式】：pdf
【页数】：43
【目录或简介】：
Table of Contents
Rolling forward to 2012..................................................................... 6
Rotational trade in December followed by renewed underperformance ..................................6
Entergy: Upgrading to Buy from Hold......................................................................................7
FirstEnergy: Upgrading to Buy from Hold ................................................................................7
PSEG: Lowering to Hold from Buy...........................................................................................7
Recent pullback brings P/E back below long-run average.........................................................8
Dividend yield spread versus 10-Year has narrowed 80bps......................................................8
Forward gas curve flat to down despite stronger front end......................................................9
Demand trends remain weak but weather providing a boost .................................................12
Company updates............................................................................ 16
American Electric Power (AEP): Raising PT to $38; maintain Buy...........................................16
CMS Energy (CMS): Raising PT to $18, maintain Buy.............................................................17
Consolidated Edison (ED): Raising PT to $42; maintain Hold..................................................18
Dominion Resources (D): Raising PT to $41, maintain Hold ...................................................19
DTE Energy (DTE): Raising PT to $42, maintain Hold..............................................................20
Duke Energy (DUK): Raising PT to $17, maintain Hold............................................................21
Edison International (EIX): Raising PT to $40, maintain Buy ....................................................23
Entergy (ETR): Raising PT to $88; upgrading to Buy ...............................................................24
Exelon (EXC): Reducing PT to $46; maintain Hold...................................................................27
FirstEnergy (FE): Raising PT to $53, upgrading to Buy............................................................29
FPL Group (FPL): Maintain PT and Hold rating........................................................................31
ITC Holdings (ITC): Raising estimates and PT; maintain Buy...................................................33
Northeast Utilities (NU): Raising PT to $27; maintain Hold .....................................................35
PG&E Corp. (PCG): Raising PT to $47, maintain Hold .............................................................36
PSEG (PEG): Lowering PT to $35; downgrading to Hold ........................................................37
Southern Company (SO): Raising PT to $34; maintain Hold....................................................38
Xcel Energy (XEL): Raise PT to $22, maintain Hold .................................................................39
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