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Fly News Breaks for February 14, 2017
SCG
Feb 14, 2017 | 09:00 EDT
Mizuho analyst James Von Riesemann downgraded SCANA (SCG) to Neutral and lowered its price target to $68 from $80. The analyst said is concerned about Toshiba's $6.3B in impairments, which were at the very high end of estimate ranges, and its commitment regarding the nuclear plants its constructing for SCANA and Southern (SO), which may not be longer be economically viable and that the responsibility for completing its two new nuclear units could now fall on Scana. As a result, Von Riesemann would wait for better clarity about the ultimate costs and earnings power before becoming more constructive on shares.
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