Jefferies is out with its report today on El Paso Electric EE, downgrading EE from Hold to Underperform.
In its report, Jefferies writes, "We are downgrading El Paso Electric to Underperform from Hold due to the
recent Show-Cause order issued by the CIty Council. Jefferies believes this order will create a regulatory overhang on the stock and expect it to underperform
the regulated utility group."
Jefferies lowers PT on EE from $33.50 to $29.00.
Shares of EE closed Tuesday at $33.32.
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