Wunderlich Securities Maintains Hold And $30 PT On Wisconsin Energy Corporation (WEC)

Wunderlich Securities maintains its Hold rating and a $30 price target on Wisconsin Energy Corporation WEC in a research report published today. In the report, Wunderlich states, "Wisconsin Energy (WEC) reported 1Q11 EPS of $0.72 versus $0.55 a year ago and our estimate of $0.67. The slightly better-than-expected results were driven by improved weather and over-recoveries of fuel costs in 1Q. Industrial sales appeared weak at +0.4%, but adjusting for the permanent closure of the Chrysler plant in Kenosha in 2010, WEC suggested adjusted industrial sales rose 2%-3%. As expected, EPS were driven by revenues from the new Oak Creek coal units. Based on the results, we maintain our EPS estimates and Hold rating on WEC." In yesterday's trading, Wisconsin Energy added 1.38% to its value to close the day at $31.61.