Jefferies analyst Julien Dumoulin-Smith downgraded Sempra Energy (SRE) to Hold from Buy with a price target of $77, down from $96, after the “disappointing” Q4 reboot driving guidance 9% lower after messaging of a positive update coming. It will take time for management to rebuild confidence while investors wait for better visibility on the balance sheet and Texas regulation, the analyst contends.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SRE:
- Sempra Energy downgraded to Equal Weight from Overweight at Barclays
- Sempra Energy price target lowered to $76 from $92 at Mizuho
- Sempra Energy removed from US Conviction List at Goldman Sachs
- Sempra Energy price target lowered to $85 from $100 at Morgan Stanley
- Sempra Energy downgraded to Neutral from Buy at UBS