According to Bank of America, Hawaiian Electric Industries HE estimates are lowered.
Bank of America said that Hawaiian Electric Industries (HE) reported 2Q11 earnings of $0.28, below the $0.31 estimate, based on higher O&M. “We are lowering our P.O. from $24 to $23 based on a lower multiple for bank peers.”
Hawaiian Electric Industries closed on Friday at $22.54.
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