Zacks Investment Research downgraded shares of Wisconsin Energy Corp. (WEC) from OUTPERFORM to NEUTRAL on March 22, 2013, with a target price of $43.00.
We have downgraded our recommendation on Wisconsin Energy Corporation to Neutral from Outperform due to stringent utility regulations, volatile commodity pricing and over-dependence on weather conditions. In full-year 2012, the company reported mixed results with revenues falling short of the Zacks Consensus Estimate while earnings per share surpassing the same. The decline in operating expenses led to favorable bottom line. However, the company's Power the Future' plan and several organic projects, including a biomass plant in Rothschild, to partially mitigate the strong negatives in the future.
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