Wunderlich Securities Reiterates Buy and PT of $44 on Scana Corporation

Wunderlich Securities reiterated its Buy rating and price target of $44 on Scana Corporation SCG. In a research report published today, Wunderlich stressed it continues to see Scana as an attractive investment, in spite of design certification delays setback. In the report, Wunderlich states, "SCANA Corp. (SCG) filed its quarterly update with South Carolina regulators on May 16. SCG expects the schedule for AP1000 design certification to be delayed by a month or more, which seems to suggest final design certification may be pushed into October. However, we believe SCG has built conservatism into the timeframe, thus a one- to two-month delay in design certification (and therefore COL issuance) does not change our view that SCG's capital spending forecast will remain intact for 2012. We continue to highlight SCG as an attractive niche play on new nuclear. Our $44 price target is premised on 13.1x our 2013E. Our DCF valuation of $53 highlights the long-term potential of new nuclear." On Tuesday, Scana added 0.19% to its value to close the day at $41.84.