RE:Scotia Analysis (not sure if posted already)
It's funny to see how these targets change based on the general feeling around the stock. 2 years ago this company had the exact same debt ratios, less earnings in terms of EPS, FFO and EBITDA. Their business was a lot more risky having more power assets and less regulated utilities. They've sold off their gas plants which were high risk in California, and repositioned the company to grow earnings / EPS earnings bottom line earnings. Yet 2 years ago the targets for all banks was $35 per share. The old company had no growth except Ripet and had a declining eps year or year. They now have a growing eps and a clear and safe path to growth. Can the analysts not see how the pipeline replacement programs are a gauranteed growth of 10% paired with rate cases. On top of that they have their gas business which is even higher growth. With all of this going for the company for some reason their targets have declined 40%? I have a feeling the last CEO really pissed off these banks and we're still in the hangover from that. It's most likely that Harris was fired over something sexual in nature people usually don't look kindly on those sorts of things. That is pure speculation on my part but the me too movement most likely got him Imo. There seems to be a tighter ship now. We didn't even see the leaked information like in the past when the stock would tank or run days before good and bad news. As we saw a decline before a great year end budget.