www.pit5.com saves this page so readers can
view old news that may not still be availible elsewhere.
This is a saved page of
UnionBanCal "market perform," target price reduced (New Ratings)
This is a copy we made of the page on 09-Aug-2006.
The original page may or may not still be availible and pictures and text may
have changed since then.
Click Here to view the original page at the original
website.
NEW YORK, August 1 (newratings.com) - Analyst Richard X Bove of Punk Ziegel & Co maintains his "market perform" rating on UnionBanCal Corp (UB.NYS), while reducing his estimates for the company. The target price has been reduced from $76 to $69.
In a research note published this morning, the analyst mentions that the company has reported its 2Q EPS short of the estimates. UnionBanCal’s stock has been under pressure recently due to the company’s weak 2Q performance, the analyst says. The company’s cost of funding is fairly favourable, Punk Ziegel & Co adds. The EPS estimates for 2006, 2007 and 2008 have been reduced from $5.25 to $5.03, from $5.66 to $5.36 and from $5.81 to $5.76, respectively.
Quote data provided by IS.eFinance Solutions (powered by IS.Teledata AG) using Standard&Poor's ComStock Inc. and others. Delay times are 15 mins for European exchanges and NASDAQ, 20 mins for NYSE and AMEX.
All content copyright newratings.com. All rights reserved.
Republication or redistribution strictly
prohibited without the prior written consent of newratings.com.
In no event shall newratings.com be
held liable for this or any other content, or for any actions taken in reliance thereon.
newratings.com makes no warranties, either express or implied,
as to the fitness of the content
for any particular purpose.
-0.53 (-0.87%)